Saxo Bank reported their September volumes today and the results are in line with the rest of the FX industry reporting a blowout month compared with the prior months on the year. The outlier was driven by significant geopolitical events shaking the British pound, and non-traditional monetary policy decisions arising from the ECB which has seen the euro come into the grips of speculators and hedgers. The dollar has also been ripping thru the month having its best run in years. Will it continue? That we can not say for sure, but stay tuned with LeapRate for all happenings in the FX industry to get an insiders view of the sector.
Saxo reported a 51.4% jump in volumes MoM to $321b from August’s $212b, and makes good for a 45.9% increase YoY from September 2013’s $220b reported. Check out the chart and detailed statistics below:
