Computers could be to blame for the pound's 'flash crash': Algorithmic trading could cause more mayhem
The Bank of England is looking into the 'flash crash' which sent the pound plunging more than 6 per cent against the US dollar overnight, while experts think computers are to blame.
The value of sterling dived during the Asian trading session to $1.18 US, hitting fresh 31-year lows before recovering to $1.238.
Experts are blaming algorithmic trading, systems of computers designed to follow a set of instructions for placing a trade.
ALGORITHMIC TRADING With old school trading floors ancient history these days, investors - particularly big institutional players with millions or billions to... read more
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