Volumes double as US dollar gains
“We have traded much more EUR/USD than we traditionally would in the past week,” said Firas Askari, managing director, foreign exchange trading, at BMO Capital, based in Toronto. He declined to specify the volumes increase.
One London-based trader agreed, adding that his firm had seen notional values of cable traded almost double.
However, traders are not convinced the dollar bounce will continue. “It is not that the US is improving but just that everyone else is getting just as bad,” said
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