dollars: The crash lasted for about four minutes, with sterling recovering to 1.23 US dollars later in the day, according to Global Times China. Deputy governor Sir Jon Cunliffe told lawmakers at the Houses of Parliament that "we saw last week news about how Brexit might play out. Last Friday, sterling fell to 1.15 US dollars to the pound from 1.26 US dollars during Asian trading, the largest move in the currency since June 24, the day after the Brexit vote. We've seen the effect on the currency markets...where sterling in Asian markets lost 6 percent of its value in a matter of minutes. Some of it is not just to do with news about Brexit coming into the sterling price, but also to do with the way markets are currently configured." Cunliffe, who holds special responsibility within the BOE for financial stability, added that the market recovered quickly and that he could imagine that "as more news comes in that there is potentially stress in markets. We have seen that sort of crash before in US Treasuries, in German Bunds.
(news.financializer.com). As
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