'Fat-finger' error seen as sterling slumps; Asian shares dip

'Fat-finger' error seen as sterling slumps; Asian shares dip
 

Sterling plunged to a three-decade low in thin early Asian trade on Friday as a break of key technical support levels triggered a wave of stop-loss orders.
The pound fell almost 10 percent at one point to $1.1378 GBP=D4 before stabilising around $1.2415, still down 1.5 percent from late U.S. levels, leaving traders scratching their heads in the absence of news or market events that would justify such a move.
"This was even a bigger move than what we saw after the Brexit vote. There was almost no offer, no bids when this happened," said a trader at a European bank in Tokyo.
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7 October 2016 in Business, Views: 57
Source: Reuters
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