LONDON, July 9 (Reuters) - Average daily volumes in the global foreign exchange market surged by over $500 billion in June, data from FX settlement system CLS showed, suggesting a bounce-back for the world’s largest and most liquid market.
The number of transactions through the system, which is used almost universally by the banking industry to process or settle trades, was up over 5 percent from the previous month at 1,027,055.
The value of those transactions surged by some 13 percent in June to $5.46 trillion, just under the $5.58 trillion traded on average each day in the same month last year.
The last two months had seen volumes dip under the $5 trillion mark, after a combination of ultra-low interest rates across the developed world and an uncertain regulatory environment hammered spot trade volumes over the past year.
Daily currency trading volumes on platform EBS inched up in May, while those on Thomson Reuters fell for the fourth month running. (Reporting By Jemima Kelly, editing by Louise Heavens)