The Traderszone Network

Forex news for Asia trading Friday 7 October 2016
An even closer look:
GBP today (the bottom post is the first)
Other:
GBP was slammed lower in the early Tokyo morning, from above 1.26 to around lows of 1.1840 (lower lows were reported too, which is the nature of the OTC forex market) before bouncing back quickly to 1.2300 and then gaining more slowly to above 1.2400. Moves since have been less frenzied but spreads have blown out and the range after this would have been a huge one for Asia without the prior enormous drop.

This article is published in collaboration with Scutify, where you can
find real-time markets a

This article is published in collaboration with Scutify, where you can
find real-time markets a

On any ordinary Asian session the 45+ point drop in EUR/USD would be notable
But it’s a bit “m’eh” after the GBP moves we’ve had. If a currency doesn’t put in a 1000+ point round turn, don’t bother telling me about it 😀

Comments from various bank analysts from around the place
Collated via Reuters:
– “Low liquidity amplified the move. People suspect a ‘fat finger’ triggered stop-loss orders,” said Kaneo Ogino, director at foreign exchange research firm Global-info Co in Tokyo.
via Bloomberg:

Other currencies did not see corresponding moves so Friday’s crash may not be a liquidity issue, flagged ‎UBS’ chief Asia-Pac investment officer Kelvin Tay.

This article is published in collaboration with Scutify, where you can
find real-time markets a