World’s Biggest Currency Dealers Say Trade Volumes Surge in 2013
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The world’s biggest currency traders are reporting a jump in volumes in 2013 as a slide in the yen, pound and Swiss franc increase anticipation of future price swings to a five-month high.
Barclays Plc, the third-largest dealer based on Euromoney Institutional Investor Plc data, said this month that volumes for the yen versus the euro climbed to a daily record and trading across all currencies has risen to the most in a year. Citigroup Inc. said turnover in the yen was “very high,” while Deutsche Bank AG, the largest dealer, said a calming of euro-area tensions spurs demand for higher-yielding assets.