Pound suffers mystery 'flash crash' as it appears to drop 10% in seconds before rogue trade is cancelled
The pound suffered a mystery flash crash overnight as it appeared to dive by 10 per cent in seconds before swiftly recovering, as Asian stock markets opened.
Traders watched nervously after the sudden plunge in sterling took it to fresh 31-year lows, however, what was believed to be an outlying rogue trade that took the pound down from around $1.26 to $1.1378 was later cancelled.
The low for the pound was then revised, although this still delivered a crash of 6 per cent to $1.18 in a matter of minutes, before a recovery to $1.24.
Market commentators suggested a rogue ‘fat finger’ trade, or... read more
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