Post Profile

The pound crashed 6% in 2 minutes overnight in a 'flash crash'

By HONG KONG/TOKYO, Oct 7 (Reuters) - Sterling plunged to a three-decade low in Asian trade on Friday in a suspected "flash crash" and amid growing fears of a "hard" exit by Britain from the European Union. The pound nosedived over 6% at one point to $1.1378 after crashing through key support levels and triggering a wave of selling. Traders blamed a so-called "flash crash," where trading algorithms mess up and cause sharp moves in stocks or shares.
read more


Related Posts

Deutsche Bank "Shocked" At "Disorderly, Dramatic" Pound Flash Crash

Business & Finance : Zero Hedge

What was supposed to be a day reserved solely for today's nonfarm payrolls report as the biggest news, has been upstaged by the overnight flash crash in pound sterling, which as reported previously inexplicably plunged 6% in a sharp...

'If the pound was a prize fighter the referee would have already rung the bell'

Business & Finance : Business Insider: Clusterstock

Sterling is continuing its disastrous run on Friday, down over 2% after a "flash crash" in early Asian trade. The pound sunk as much as 6% against the dollar overnight before recovering. But at about 10 a.m. BST (5.00 a.m. ET) it st...

Global Stocks, US Futures Fall Pressured By Pound "Flash Crash" Ahead Of Payrolls

Business & Finance : Zero Hedge

U.S. equity index futures fell, with European, Asian stocks also declining before the September payrolls data, following the stunning 2-minute "flash crash" meltdown in sterling which plunged as much as 6.1%, the most since Brexit a...

A Look Inside The Pound Flash Crash: What Really Happened In Those 30 Seconds

Business & Finance : Zero Hedge

At just after 7 minutes after hour, whether 7pm on the east coast, midnight GMT or early Friday morning in Asian trading, pound sterling plunged by more than 6%, in the span of 2 minutes although the bulk of the plunge took place in...

'Flash Crash' Decimates Sterling Overnight Amid Fears Of 'Hard Brexit'

News : Huffington Post

Sterling lost a tenth of its value in minutes on Friday, in what traders said was a “flash crash” driven by computer-initiated sell orders that left the pound at a fresh 31-year-low and heading for its worst week since January 2009....


Copyright © 2016 Regator, LLC