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Tokyo FX volume falls as hedge funds leave

Reuters – Foreign exchange trading volume in Japan has fallen 16 percent this year after many hedge funds closed out investments during the global financial crisis, and Tokyo’s turnover in spot trading now lags behind Singapore.

But steady turnover in FX swaps has helped Tokyo remain ahead of Singapore, its key rival as Asia’s dominant FX trading hub, in overall foreign exchange product trading, data on traditional FX instruments from the Bank of Japan showed.

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