High speed traders may have fanned volatility after SNB move

Tokyo

HIGH frequency traders may have at first exacerbated currency swings after the Swiss National Bank's surprise decision to drop its euro cap, before helping to calm the market faster than would otherwise have been the case.

Central bankers discussed the impact of such traders last month, according to minutes published on Wednesday of the Global Meeting of Foreign Exchange Committees in Tokyo on March 23. The committees comprise central bankers and representatives of the private sector, with Japan, the US, the euro area and the UK among eight regions represented.