Flight from EUR/USD leads to record low volume on EBS
Average daily volume on EBS fell to $89.3 billion in July, down 31% month-on-month and 16% year-on-year. The figure is also the platform’s lowest average daily volume in at least seven years and since Icap acquired it in 2006.
“There was a decrease in activity across all currencies and we’ve seen some particularly muted activity in EUR/USD. We can’t say why that is at this time,” says a spokesperson for EBS in London.
EUR/USD rose sharply from 1.29 to 1.32 between July 9 and July 11 as
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