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Screenshot of a breaking news alert e-mail from Q2 2017
Carry trade unwinding leads to a substantial increase in volumes at the leading Japanese brokerage
The leading Japanese forex trading brand GMO Click has announced its volumes numbers for the month of January and we are seeing a dramatic increase in trading volumes. The firm announced that monthly FX volumes have totaled almost ¥83 ($820 bln) trillion which is a whopping increase by 40% on last month. The dynamics of the foreign exchnage market have changed substantially since the end of December.
It was then when the Federal Reserve started its tapering efforts and once that dynamic has kicked in full force and once the FED actually started reducing its bond purchases volatility accross asssets, including FX has risen substantially. The biggest beneficiary so far has been the Japanese Yen which is up by almost 5% since its recent multi-year bottom marked at the end of December.
Volumes reported by GMO Click in the first month of 2014 are the highest since July last year and higher by 22% since last years record month of January.