Hourly volume (MM Base Currency)
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- In the recent market conditions, the average volume for USD/JPY is highest around London close and New York open. This is similar to pre-COVID market conditions.
- We notice an immediate and sharp drop in recent volume after London fixing hour (between 16:00 and 17:00 GMT), relative to pre-COVID market conditions.
- In the recent period, the volume has generally decreased, relative to the COVID peak period.