200pip spike on the cable

Discussion in 'Forex Trading' started by womblevader, Oct 30, 2008.

  1. Did anyone notice the huge spike on the cable today it jumped around 200pips on a 1 minute candle. And it dropped straight back down pretty quick.

    Does anyone know what would cause this?

    TIA
     
  2. Reaver or cabletrader may have farted.
     
  3. cstfx

    cstfx

    GBP/USD: Apparent "Miss-Hit" Creates Confusion
    Thursday, October 30, 2008 11:02:00 PM


    Sydney, October 31:

    Traders say that that a miss-hit in the GBP/USD around 1.6500 was partly behind

    a spike lower in the USD against a number of currencies. The EUR/USD jumped up

    to 1.2870 and the AUD/USD jumped to 0.6738 in the aftermath of the GBP/USD

    confusion. Traders suspect that there was a USD selling flow going through at

    the same time, but the unusual price action illustrates just how thin and jumpy

    the FX market is at present. The GBP/USD trades 1.6360/70. --

    John.Noonan@thomsonreuters.com


    https://news.oanda.com/mod_perl/new...n_id=a016e9175a00ba4e67468da35da75f6115b86c2d
     
  4. Nah, a fart would have caused a forex tsunami, a 200 pip spike was more likely just a burp....
     
  5. Agreed. :D