Thomson Reuters posts 27% monthly rise in forex trading volume

Total volumes on its foreign exchange trading platforms rose 14 per cent in January from December to reach $398 billion.

The figure was second only to the $418 billion traded last September. It was also 7 per cent higher year-over-year.

Market observers said increased currency hedging and investment activity was due to higher volatility related to the European Central Bank’s quantitative easing programme and the Swiss National Bank’s surprise decision to abandon its currency peg against the euro.

“This was a strong start to 2015,” said Phil Weisberg, Thomson Reuters’ global head of FX. “Volatility was comparatively high in the market, due principally to eurozone fears, and volumes were healthy as asset managers were assembling their heading and investing strategies for the year.” ■