The Wall Street Journal writes about a tough year for forex funds, investigations into market manipulation and low Q3 volumes:
In October, currency trading volumes handled by ICAP PLC-owned EBS averaged just $77 billion a day, the lowest since records began in 2006. Similarly, Thomson Reuters saw currency trading volumes across its main FX Spot trading services–Thomson Reuters Dealing, Matching and Reuters Trading for FX–average $97 billion in October, also the lowest since the firm started collecting the data in 2010.
The flipside is that trading volumes earlier in the year were very strong.