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  • 2016/10/10
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Flash Crash on Asian markets hits Sterling

On Friday, the British Pound fell in Asian trading to a 31-year low against the US Dollar, and a 7-year low against the Euro, with fears of a Hard Brexit speeding up the decline that began earlier in the week.

   

According to brokers quoted by Bloomberg News, this slide may have been caused by computerised trades in low volumes, with some even talking of "human error".

Others said statements by French President François Hollande, requesting a tough negotiating stance vs. the UK in upcoming Brexit negotiations, were the catalyst.

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