Bob, nobody trades the majors on anything but HMUZ - in fact I didn't even know they had non-quarterlies. Change all of those to June (with the exception of BRL) and then look at volume and OI.
Wow I didn't even realize there was a mid quarter contract. For the guy who asked, the majors will have a 1 tick spread most of the time.
Any savvy trader wouldn't go near the spot FX market when you can trade the future. Is that constuctive?
I hear that. But what if this savvy investor wants to trade the cross rates, or has an A book fx broker?