FINEX Europe, the Dublin based futures and options arm of the New York Cotton Exchange, reported a 15 per cent increase in lots traded last week. More than 20,000 lots were traded last week, according to the exchange.

Trading was dominated by mark yen and dollar yen contracts, following mounting speculation about a rise in Japanese interest rates and foreign exchange intervention by the Bank of Japan, Finex said. Trade in these contracts represented 29 per cent of last week's total volume.