200pip spike on the cable

Discussion in 'Forex' 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?

  2. Reaver or cabletrader may have farted.
  3. 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. --


  4. Nah, a fart would have caused a forex tsunami, a 200 pip spike was more likely just a burp....
  5. Agreed. :D