Discussion in 'Forex' started by lachie74, Nov 10, 2009.

  1. Any news on the huge spike down in the GBP against all currencies?

    I can't find any news, and no economic releases were due.
  2. OK We finally have some news:

    0552 GMT [Dow Jones] GBP falls sharply; Hiroshi Maeba, senior dealer at Nomura Securities says players reacting to Reuters report that Fitch's co-head of global sovereign ratings David Riley said U.K. most at risk of losing its AAA status among major economies. Large impact on GBP/USD as remark came out of blue, trading volume so far in day thin. GBP declines also pushing down other crosses such as EUR, he says. GBP/USD falls to 1.6608 (vs 1.6755 pre-remark); GBP/JPY falls to 149.38 (vs 150.72 pre-remark) with next support at 1.6500, 148.00 respectively, dealers say. EUR/USD last 1.4966, may fall to 1.4900, EUR/JPY last 134.46, may fall to 133.50, dealers say. (TMO)
  3. Lachie, thanks for the info, I was, like WTF?

    Best trading,