LONDON (Reuters) - Average daily foreign exchange trading volumes jumped 11% in November versus a year earlier as the U.S. election result and the Pfizer/BioNTech Covid-19 vaccine announcement triggered a sharp rise in spot activity, CLS said on Monday.
CLS, a major settler of trades in the foreign exchange market, said in a statement that the average daily traded volume of currencies submitted to it hit $1.78 trillion in November, up from the $1.6 trillion reported last year.
The jump in activity was led by a surge in spot trading, with volumes increasing by 23% on 2019 levels. Swap turnover rose 5.7% year-on-year, CLS said.
Reporting by Tommy Wilkes, Editing by Iain Withers
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