1 post • Page 1 of 1
This article was written by Graeme Watkins, CEO of Valutrades.
In the early hours of Friday 7th October 2016 at the beginning of the Asian session, GBP suffered a 10% drop in a matter of minutes. GBP/USD fell from around 1.26 to anywhere between 1.10 and 1.20 depending on your liquidity providers.
The effect was felt across all GBP crosses with EUR/GBP, GBP/AUD, GBP/JPY and other GBP crosses all experiencing similar rapid moves.
Why did it happen?
The initial news ... (read more)