Traders are scratching their heads over the latest flash crash in the pound, a currency which over the past 2 years has had more than its share of bizarre, sharp moves lower, when just as 6am ET, GBPUSD plunged 64 pips in seconds on no news (note that May’s big Brexit speech was announced for next Friday after the move). Hitting fresh day low at 1.3905, versus day high at 1.3995. Ahead of the move, traders had reported another typical low liquidity Friday, with volumes on the light side, as such as large block could have weighed on the pound. To explain the move, Bloomberg quotes an unnamed trader who suggests that ... (full story)