In the US, meanwhile, expectations proved volatile, with poor economic news in April raising hopes of a slowdown in interest rate increases - volume in April surged to a record $71 trillion - followed by better news in May and June.
Economic growth improved demand for commodity derivatives 5% overall in terms of number of contracts, although this included a 12% drop in precious metal derivatives - the bulk of the growth came from energy products. And the strengthening US dollar led to increased trading in currency derivatives, up 15% to $3 trillion over the quarter.
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