China Retail FX volumes up 30% so far in 2013

NEW YORK - May 6, 2013 - PRLog -- LeapRate Exclusive... LeapRate has learned, in discussions with various retail FX brokerages, that trading volumes from China-based clients have soared this year by about 30% -- and even more at some firms which have been actively targeting the Chinese market.

What's happening in China is essentially the same as what've been reporting has been occurring in Japan -- but for opposite reasons. Japan FX brokers, such as GMO Click, have been setting volume records as a rapidly declining (and volatile) Yen has attracted retail traders back into the Japanese market. In China, it has been the opposite with the Yuan appreciating (see chart below) -- and increasingly so -- since Chinese authorities decided to further relax currency trading rules, and allow a wider trading band for the Yuan. But the effect has been the same -- more volatility, more awareness of currencies among the Chinese retail trading crowd -- and more volumes.

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