With Japanese brokerages, Yen volatility is the theme for volume growth in 2014
The first of the Japanese forex brokerage powerhouses – GMO Click has announced its volume metrics for the final month of 2013 and we are in for a very positive number. During the month of December the company reported volumes out at 59.21 trillion Japanese Yen (about $ 565 billion) – a rise by 13% from last month’s dip to yearly lows. Without any doubt – a successful close to what was a very strong year for GMO Click.
Apparently we correctly anticipated back in our coverage of the company’s November volumes that a rebound is on the line as Japanese Central bankers have managed to spark another bout of volatility in the Yen crosses with their dovish comments. We have all the reasons to believe that this theme in the Japanese Yen is here to stay with us in 2014 as the BOJ makes sure that their pledge to meet their inflation goal of 2% is still way short of becoming reality.
Forex Industry Report