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CME Saw Busiest Day for Yen Trades Since 2016 as Currency Surged
Monday was the busiest day for spot trading in the Japanese yen since November 2016, according to CME Group, the world’s largest regulated currency marketplace. More than $77 billion traded in the dollar-yen pair on CME’s spot EBS platform, compared with $31 billion on Friday, a representative for the exchange said in an emailed response to questions. The bulk of the activity — about $63.7 billion — occurred before 9 a.m. in London. The yen swung wildly on Monday, rallying back from its weakest level against the dollar in 34 years. Bank of Japan accounts suggest authorities intervened to prop up the currency ... (full story)
