'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.
A... read more
- 06:33 In this week’s Herald . . .
- 06:32 Workers park van over three parking spaces at Morrisons
- 06:32 Spy-cam van patrols past school BEFORE parents break parking rules
- 06:32 Drivers say a complete ring road for Lincoln 'can't come soon enough'
- 06:31 U.S exchanges rent helicopter, drape banner in pursuit of Snapchat IPO
- 06:31 Asian investors see Trump stimulus sweet spot amid protectionism,...
- 06:28 British mothers drinking during pregnancy put us in worst five...
- 06:28 ‘Drug den’ in Spalding town centre disabled loo
- 06:28 'Unsafe' care home in Leek threatened with closure if drastic...
- 06:28 New escape rooms to open in Hanley
- 06:28 Northumberland Livestock
- 06:28 MP’s calls for link road action falls on deaf ears
- 06:28 Jobless figures on rise in Fylde
- 06:28 Blackpool musicians urged to bid for aid
- 06:27 Derby news recap: The biggest stories in the last 24 hours
- 06:27 Tributes pour in for man who died after Derby Market Hall incident
- 06:26 Britain's 12 Brexit objectives - which are the most important?
- 06:26 Geordie Shore stars fuel rise in fake tans among men under 25
- 06:25 Northumberland Livestock
- 06:24 Petition calls for rail line to be re-opened
- 06:23 U.S exchanges rent helicopter, drape banner in pursuit of Snapchat IPO
- 06:23 Man Utd January arrival on Jose Mourinho: I've always loved him......
- 06:21 Wicked the musical is returning to Birmingham Hippodrome
- 06:21 Turkish parliament approves more constitutional reform articles
- 06:21 Celtic fans adored Kris Commons but the club and midfielder are...
- 06:21 Woman in cash battle with ex-husband seeks anonymity
- 06:21 Celtic named in top 60 of Deloitte's list of richest clubs
- 06:21 Funeral of Status Quo guitarist Rick Parfitt to take place in Surrey
- 06:21 Rangers star Barrie McKay says he's desperate to lift Scottish Cup...
- 06:21 Sailors celebrate record-breaking triumph in world's toughest...