“What The F**k Was That?” Currency Traders Reeling Amid Sterling, Yen, Gold Chaos
by Tyler Durden
ZeroHedge.com
Nov 21, 2016
Shortly after 0826ET, with Cable trading at 1.2400, ‘someone’ decided to back up the truck and buy Sterling with bond hands and feet, spiking the pair to 1.2499 (to the tick) in spot (and over 1.25 in futures). Given the total lack of catalyst for the move, one veteran FX trader exclaimed “what the fuck was that” though noted his lack of surprise at the move in the current chaotic environment. Notably, yen and gold moved at the same time suggesting a much bigger footprint.
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