– Overall volumes were the highest level for the past twelve months.
– JPY was squeezed off the top spot in terms of daily volume as activity in USD, EUR and AUD reached the highest for the past year.
– An increased in volume marked the downside range beak in USD/CAD. EUR/USD volumes were at their highest levels in a year.
– The last time we saw this level of activity, the market was at an extreme. The upside range break in EUR/CHF was on twice the (20-day) average volume.
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Barclays Capital