LONDON Feb 14 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
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.