... presented They reveal an interesting feature In the last part of the day BST time, from about the closing time of the European exchanges and until the closing time of the New York exchange, volatility ... dummies, is the return in activity after the Tokyo lunch-break and around Interaction between quotations, spread, and volatility in FOREX 383 Fig Graphs of volatility, average spread, and number of quotations ... documented Others are already well known in markets, for example, the rise in spreads and decline in activity on Fridays But we were surprised by the finding of the continuing high volatility, in both...