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Dear Members,

 

The Global Foreign Exchange Committee (GFXC) has issued a statement on FX market conditions.

The statement is attached, and can also be found at both the GFXC and SFEMC websites.

 

The GFXC notes that the intense volatility in global financial markets this month may lead to larger than usual month-end rebalancing FX flows amidst illiquid market conditions. Hence, significant volatility and price movements may be observed during FX fixings in the coming days.

 

To reduce the potential impact of this volatility on market functioning and execution outcomes, the GFXC encourages market participants to be aware of how your actions can ensure the FX market remains robust, open, fair and appropriately transparent.

 

Download the statement here.

 

Take care everyone!!

 

-Secretariat