Pound falls to new 31-year lows in Asian markets 'flash crash'



Sterling plunged by as much as 6% against the dollar overnight in a "flash crash" during the Asian trading session.
The pound fell to 1.18 dollars in a matter of minutes, hitting fresh 31-year lows before recovering to 1.24.
Market-watchers pointed to comments by French President Francois Hollande, who insisted the European Union must take a tough stance in negotiating Brexit, and a "rogue algorithm".
Kathleen Brooks, research director at spreadbetter City Index, said: " Apparently it was a rogue algorithm that triggered the sell-off after it picked up comments made... read more

 
7 October 2016 in Regional East, Views: 18
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