Did anyone notice the huge spike on the cable today it jumped around 200pips on a 1 minute candle. And it dropped straight back down pretty quick.
Does anyone know what would cause this?
TIA
Does anyone know what would cause this?
TIA
200pip spike on the cable
- Thread starter womblevader
- Start date
Reaver or cabletrader may have farted.
GBP/USD: Apparent "Miss-Hit" Creates Confusion
Thursday, October 30, 2008 11:02:00 PM
Sydney, October 31:
Traders say that that a miss-hit in the GBP/USD around 1.6500 was partly behind
a spike lower in the USD against a number of currencies. The EUR/USD jumped up
to 1.2870 and the AUD/USD jumped to 0.6738 in the aftermath of the GBP/USD
confusion. Traders suspect that there was a USD selling flow going through at
the same time, but the unusual price action illustrates just how thin and jumpy
the FX market is at present. The GBP/USD trades 1.6360/70. --
John.Noonan@thomsonreuters.com
https://news.oanda.com/mod_perl/new...n_id=a016e9175a00ba4e67468da35da75f6115b86c2d
Thursday, October 30, 2008 11:02:00 PM
Sydney, October 31:
Traders say that that a miss-hit in the GBP/USD around 1.6500 was partly behind
a spike lower in the USD against a number of currencies. The EUR/USD jumped up
to 1.2870 and the AUD/USD jumped to 0.6738 in the aftermath of the GBP/USD
confusion. Traders suspect that there was a USD selling flow going through at
the same time, but the unusual price action illustrates just how thin and jumpy
the FX market is at present. The GBP/USD trades 1.6360/70. --
John.Noonan@thomsonreuters.com
https://news.oanda.com/mod_perl/new...n_id=a016e9175a00ba4e67468da35da75f6115b86c2d
Nah, a fart would have caused a forex tsunami, a 200 pip spike was more likely just a burp....
