February 7, 2014 / 11:41 AM / 4 years ago

Yuan trading lifts Thomson Reuters FX trading volumes

LONDON, Feb 7 (Reuters) - Daily spot foreign exchange trading volumes on Thomson Reuters dealing platforms rose 27 percent in January from a month earlier, helped by a rise in Chinese yuan trading, the company said on Friday.

Average daily spot volumes were $117 billion, the highest level since last summer, although they are still below the $126 billion recorded a year ago.

Traded volumes of the Chinese yuan on Matching and FXall climbed to record highs, becoming the seventh most traded pair by volume on Matching.

On FXall, the electronic foreign exchange platform owned by Thomson Reuters, average daily volumes rose 23 percent month-on-month to $123 billion, compared with $109 billion recorded a year ago.

The platform also set a record high for a single day’s traded volume of $197 billion on Jan. 29, as Turkey and South Africa aggressively raised interest rates to support their currencies.

Data earlier this week showed average spot volumes traded on the EBS platform rose by 23 percent in January from the previous month, driven mainly by emerging markets and non-deliverable forwards.

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