JPMorgan’s Head of Currency Trading Sees Trump Boosting Volumes
3 weeks, 4 days ago

JPMorgan’s Head of Currency Trading Sees Trump Boosting Volumes

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Donald Trump’s return to the White House is fueling a rise in currency trading volumes, according to JPMorgan Chase & Co., which sees his trade policies increasing attention on foreign-exchange markets. “When you have intense interest in FX markets, you’re going to get high volumes.” Trump’s pledges to cut taxes and enact high trade tariffs have been a major driver for assets worldwide and are expected to keep dictating flows next year when he takes office. Profits are seen picking up for Wall Street’s currency trading desks, with analytics firm Coalition Greenwich forecasting two consecutive years of Group-of-10 FX revenue growth — a turnaround from months of relatively staid market conditions. “We have stayed consistent in our headcount versus competitive firms so we’re well staffed to handle it.” Jefferies has also been closely monitoring the growth of algo-driven systematic funds in the market.

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