Average daily trading in the global currency market shrank by just under 10 percent last month, falling back to $4.7 trillion after hitting the highest level in more than a year on the back Britain's vote in June to leave the European Union. Data from settlement system CLS showed volumes down from $5.2 trillion a day on average in June, but up from $4.52 trillion a year ago.
Daily volumes have been hurt in recent months by regulatory changes that have crimped banks' risk-taking ability, and by lower global trade flows. The average daily input volume submitted to CLS, combining the settlement and aggregation services, was at 1,050,046 down 9.7 percent from 1,163,083 in June 2016.