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British pound’s wild ride: ‘Fat finger’ or Brexit freakout?

From marketwatch.com

Whodunit? That’s what traders want to know after the British pound went on a rampage against the dollar in early European trading hours, though if you blinked you would have missed it. “The GBPUSD shortly rallied to 1.4660 on what is believed to be a fat finger,” was how Ipek Ozkardeskaya, market analyst at London Capital Group, described it. The pound crested, then dropped back in quick fashion to the $1.45 region. Sterling then moved sideways before temporarily pushing back toward the upper half of the day’s stretched trading range. The pound GBPUSD, +0.7479% traded at $1.4538 in recent trade, a gain of around 0.6% ... (full story)

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  • Category: Breaking News