Share

Pound To Euro Exchange Rate Falls Again After Friday ‘Flash Crash’

The mysterious “flash crash” on Friday, which saw some airports offering less than €1 to the pound, is thought to have been caused by automated trading systems reacting to Brexit comments.

Brooks said last week: “Apparently it was a rogue algorithm that triggered the sell off after it picked up comments made by the French President Francois Hollande, who said if Theresa May and co. want hard Brexit, they will get hard Brexit.

“These days some algos trade on the back of news sites, and even what is trending on social media sites such as Twitter, so a deluge of negative Brexit headlines could have led to an algo taking that as a major sell signal for GBP.”

Article source: http://www.huffingtonpost.co.uk/2016/10/10/pound-to-euro-exchange-rate_n_12427648.html?utm_hp_ref=uk-politics&ir=UK+Politics