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GBP Flash Crash: Algos Become Modern Day George Soros For The Pound

Discussion in 'Fundamental Analysis' started by Angela_Riplay, Oct 7, 2016.

  1. Angela_Riplay

    Angela_Riplay Forum Member

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    The pound had a rollercoaster ride overnight, with GBPUSD falling to 1.1841 before climbing back to 1.2440. The highly sensitive GBP/JPY plunged 1,300 pips, and EUR/GBP spiked to 0.9415. The driver of this massacre: apparently algorithms (over)reacting to comments in the FT from French President Francois Hollande about the UK's[​IMG]

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