Thomson Reuters FX trading volumes rise month-on-month in Jan
LONDON Feb 14 (Reuters) - Daily spot foreign exchange trading volumes on Thomson Reuters dealing platforms rose 24 percent in January from the previous month, company data showed on Monday.
Average daily spot volumes on Thomson Reuters were $126 billion, up from December's $102 billion. Volumes were little changed from a year ago, when they reached $127 billion.
On FXall, the electronic foreign exchange platform purchased by Thomson Reuters last year, average daily volumes also rose in January, hitting a record high of $109 billion. That was up 8 percent from December and 31 percent from January last year.
Increased activity on both dealing platforms mirrors a wider trend of rising volumes in the $5 trillion-a-day forex market, as increased volatility provides more opportunities for investors.
Forex settlement system CLS Bank reported a 40 percent month-on-month jump in forex volumes during January.
"Uncertainty around U.S. agreement on the fiscal cliff and positive non-farm payrolls both were catalysts for increased volatility in the dollar," said Phil Weisberg, global head of FX at Thomson Reuters.
Weisberg said political uncertainty and concerns about a triple-dip recession in the UK helped increase trade in sterling, while traders said investors had piled into bets against the yen in anticipation of aggressive monetary easing from the Bank of Japan.
- WTO overcomes last minute hitch to reach its first global trade deal
- Colorado baker discriminated by denying gay couple wedding cake: judge
- Flights delayed as air pollution hits record in Shanghai
- U.S. freeze shows no sign of weekend melt after deadly storm
- Australia foreign minister downplays China air defense zone tension in visit