Happy days in the Interbank Foreign Exchange Market seems to be returning... now let's see if happy days in the Retail Forex Market are back as well...
FX: Happy Days Are Here Again
By Gregg Wirth at Traders Magazine Online News
Across the globe, foreign exchange desks are partying like it's...well, any year but last year.
Traders talk of daily volume increases of 50 percent over this time last year at some institutional desks, and at least double-digit percentage gains being enjoyed by all. "They are saying there hasn't been a month like this in years!" said Jeremy Boulton, an analyst for Reuters FX Buzz.
Electronic FX trading platform EBS, which is owned by interdealer broker ICAP, reported a 22 percent increase in January's average daily volume on its platform, to $141.3 billion, compared with the previous year's January volume of $116 billion.
In fact, EBS's January volume number was higher than any single monthly number through all of last year. Thomson Reuters, the other top electronic trading platform, has not yet reported its January volume.