Pound under pressure following flash crash trade

Pound under pressure following flash crash trade
 

The pound has been pummelled in the currency markets with traders blaming concerns over Brexit and a flash crash that hit the market in Asian trading.
In the early hours of Friday morning, the pound fell 6% to $1.1841 - the biggest move since the Brexit vote.
Analysts think a news report could have triggered automated trading systems to sell the pound heavily in a short space of time.
The pound later recovered some of those losses but remained volatile.
It was down 1.7% against the dollar at $1.2421, in afternoon trading in London, with analysts blaming concern over the UK's negotiations to... read more

 
7 October 2016 in Regional, Views: 39
Source: BBC
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