The most popular trading pair of Q4 2016 revealed
2016 has come and gone, producing some unprecedented market movement and volatility during the fourth quarter of the year. Between the US election and Brexit, traders were treated to a dynamically shifting currency market, offering up unique and diverse trading opportunities across the majors.
As the stablemate of the forex market, the EUR/USD currency pair traditionally holds the top spot as the most traded pair across the board. As for the fourth quarter, the most traded pair reported by Forex Magnates Intelligence Department became the GBP/USD, or ‘Cable’ as it is colloquially known. Retail traders were attracted by the volatile pricing fluctuations surrounding the political unrest across the United States and fallout from the European Union Brexit decision. The report highlights that pairs involving GBP made up 11.7% of trading volumes (notably being the GBP/USD volume, below the JPY pairs at 12.8%. The top currency pair across all trades was the USD with 30.4%, with the EUR taking second place at 16.8%.
In second position for the final quarter of 2016 was the EUR/USD, followed by USD/JPY pair.