I want to know if I am right at this.
During a specific open market-hours such as in NY, banks and institutions in the US can buy and sell currencies as normal. When the market is closed they, in the US, cannot buy and sell currencies at all. That is why the USD pairs volume is low when NY is closed and exchanges occur only between Sydney, Tokyo, and London.
During a specific open market-hours such as in NY, banks and institutions in the US can buy and sell currencies as normal. When the market is closed they, in the US, cannot buy and sell currencies at all. That is why the USD pairs volume is low when NY is closed and exchanges occur only between Sydney, Tokyo, and London.