flash crash: The move was reminiscent of the flash crash that briefly took the pound to record lows earlier this year, and was blamed on algorithmic trading, according to Market Watch. The move was also seen as exacerbated by the thin liquidity that is typical in the final trading week of the year. The euro EURUSD, 0.2669% traded at 1.0534 from 1.0556, though it earlier jumped from around 1.0490 to briefly trade around 1.0700 in a matter of moments its highest level in two weeks. Surpassing the 1.05 level triggered substantial algo orders, said Ipek Ozkardeskaya, senior market analyst at London Capital, in a note. She added that a further downside correction could be expected. Thin holiday volumes aggravated the quake.
(news.financializer.com). As
reported in the news.
Tagged under flash crash, market analyst topics.