Sterling trading has been erratic all day long with rapid swings defining a 250 pips range during the London trading session in cable, with EUR/GBP swinging within 200 points. The Bank of England has announced that the so called ‘flash crash’, which is a term to describe abrupt market moves for no apparent reason, is under investigation.
Chart of British Pound flash crash (purple) and other active futures. Red line is Euro/LB contract pic.twitter.com/z7pLrilBxu
— Eric Scott Hunsader (@nanexllc) October 7, 2016
So far the speculation has been that the move in sterling ... (read more)