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
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