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URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’

 
Anonymous Coward
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10/07/2016 02:15 AM
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URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
Sterling dropped sharply to a fresh 31-year low early in Asia trade Friday, falling more than 6%, before regaining ground after what could have been a mistaken trade.

"I initially doubted what I saw on my screen," said Kenji Yoshii, foreign exchange strategist at Mizuho Securities.

With no clear news trigger and a strong rebound, Mr. Yoshii said the large selling orders could have been the result of a fat finger trade during thin trade early in the Asia session.

The pound tumbled to as low as $1.1789 around 2305 GMT, its lowest level since 1985.

The currency then bounced back sharply, changing hands at $1.2437 around 0035 GMT, but remained below $1.2600, where it was positioned before the early morning selloff.

The euro jumped to GBP0.9450 before falling back sharply to GBP0.8963.

The British currency has been under pressure in recent days amid speculation that the U.K. is likely heading toward a more comprehensive exit from the European Union--or "hard Brexit"--after British Prime Minister Theresa May signaled that British fears over immigration issues would take priority over access to the EU's single market.

European leaders have also been hinting that Britain can't cherry pick the conditions for a new relationship with the EU.

The Financial Times reported overnight that French President Francois Hollande had urged the bloc to lead tough negotiations with the U.K. to prevent demands for advantageous conditions spreading to other countries within the EU and to protect the fundamental principles of the single market.

But analysts cast doubt on whether the news was sufficient to prompt the selling earlier Friday.

I thought Yday something was up...

Thread: FTSE all 6s and 9s

Read More:
[link to www.marketwatch.com]

[link to www.bbc.co.uk]

[link to www.dailymail.co.uk]
G3
G3

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10/07/2016 02:19 AM

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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
pinit
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10/07/2016 02:23 AM
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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
Fat finger comment made me wonder

Whats really going on here
Anonymous Coward (OP)
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10/07/2016 02:33 AM
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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
siren2
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10/07/2016 02:34 AM
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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
Big news.
Pin it !
Anonymous Coward
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10/07/2016 02:43 AM
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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
Its great news for British exporters. Their orders are only going to increase due to the prices now being even cheaper than their rivals.
Anonymous Coward (OP)
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10/07/2016 02:47 AM
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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
Its great news for British exporters. Their orders are only going to increase due to the prices now being even cheaper than their rivals.
 Quoting: Anonymous Coward 58242858


We still export? I thought we exported all our business's to the EU?
Anonymous Coward
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10/07/2016 03:13 AM
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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
well I think all will be clear after a day of msm spin

bbc mention fat fingers but expand on brexit fear

the timing is too tidy - hard to promote fear when the PM's saying what the uk wants to hear and Europe doesn't

for me , somebody somewhere - some old evil fuck - a soros for want of a better word - wants free movement of people in Europe very badly and wants the uk to fail because it's hampered his plans

so his long fat increasingly more patent fingers have manipulated the 'automated traders ' to do exactly that- plummet with every piece of negative -for him- news

desperate times ... for some
Anonymous Coward
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10/07/2016 03:34 AM
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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
Would that be why the news was focuses on Stephen Woolfe all yesterday?
Anonymous Coward
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10/07/2016 03:38 AM
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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
no one calls it "sterling" obviously OP dont know SHIT about forex.
Anonymous Coward (OP)
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10/07/2016 03:50 AM
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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
no one calls it "sterling" obviously OP dont know SHIT about forex.
 Quoting: Anonymous Coward 72994531


Sterling or pound doesn't really matter
Anonymous Coward
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10/07/2016 04:20 AM
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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
James O'Keefe ‏@JamesOKeefeIII 6h6 hours ago
James O'Keefe Retweeted Ganogen
I can't wait to taste your tears after our October surprise video drops. People will be fired. Your head will explode. Sweet justice.
[link to twitter.com (secure)]

James O'Keefe @JamesOKeefeIII
Wrong. We have tape of them demeaning and disparaging black people in the worst ways. That will matter. Coming in October.
[link to twitter.com (secure)]
Anonymous Coward
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10/07/2016 04:20 AM
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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
James O'Keefe ‏@JamesOKeefeIII 6h6 hours ago
James O'Keefe Retweeted Ganogen
I can't wait to taste your tears after our October surprise video drops. People will be fired. Your head will explode. Sweet justice.
[link to twitter.com (secure)]

James O'Keefe @JamesOKeefeIII
Wrong. We have tape of them demeaning and disparaging black people in the worst ways. That will matter. Coming in October.
[link to twitter.com (secure)]
F-BVFA

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10/07/2016 04:48 AM

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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
Sterling dropped sharply to a fresh 31-year low early in Asia trade Friday, falling more than 6%, before regaining ground after what could have been a mistaken trade.
 Quoting: Dumachii


Friend in Singapore just told me the same thing.

I hope it will pick up again.

hiding
I came. I saw. I Concorde.

For once you have tasted Concorde you will walk the earth with your eyes turned skywards, for there you have been and there you will long to return.

"I would say today we can integrate all religions and races EXCEPT ISLAM."
Singapore's founding father Lee Kuan Yew
Anonymous Coward
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10/07/2016 04:53 AM
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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
Its great news for British exporters. Their orders are only going to increase due to the prices now being even cheaper than their rivals.
 Quoting: Anonymous Coward 58242858


We still export? I thought we exported all our business's to the EU?
 Quoting: Dumachii


You were mistaken then. Did you honestly believe ALL UK's business was just with the EU?

I find that quite incredible.
Anonymous Coward
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10/07/2016 05:03 AM
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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
Its great news for British exporters. Their orders are only going to increase due to the prices now being even cheaper than their rivals.
 Quoting: Anonymous Coward 58242858


We still export? I thought we exported all our business's to the EU?
 Quoting: Dumachii



UK exports enjoy biggest rise in 13 years

[link to www.belfasttelegraph.co.uk]
Anonymous Coward
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10/07/2016 05:04 AM
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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
Its great news for British exporters. Their orders are only going to increase due to the prices now being even cheaper than their rivals.
 Quoting: Anonymous Coward 58242858


Economics- business science and basic exchange rate dynamics are not your strong points are they?
Anonymous Coward
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10/07/2016 05:08 AM
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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
So the title should read the pound is so strong it can drop to a 31 year low and recover like there is no problem.
Anonymous Coward
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10/07/2016 05:08 AM
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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
How many wives does soros have, you would think the crown has had enough of his BS and would take out the trash during his next wedding.
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10/07/2016 05:10 AM
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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
yawn
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10/07/2016 05:15 AM
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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
Its great news for British exporters. Their orders are only going to increase due to the prices now being even cheaper than their rivals.
 Quoting: Anonymous Coward 58242858


We still export? I thought we exported all our business's to the EU?
 Quoting: Dumachii



UK exports enjoy biggest rise in 13 years

[link to www.belfasttelegraph.co.uk]
 Quoting: Tess.


Very slight margins as we do not export anything that has a wider impact on the wider community.

True, customers can buy british goods cheaper, but you are getting less dollars for them.

Also, to extrapulate, customers can buy more of your products and purchase less often consequently, or give them away to their friends.

A devalued pound does not increase profit potential, it creates dissolution.

I'm suprised at you, whoever you are towing the states line on this falsehood of a new economic dawn.. As a person who exports to virtually ever country on earth from the UK, I can tell you the story is very different.

By the way, have you noticed the un-reported escelation of fuel lately? We buy in dollars, the state ordered Milford Haven and the fuel suppliers to fill up their super tankers and moor them off the coast to ease in the huge catastrophic future and current rises in fuel.

However, it is happening now. A jump of 8-10 pence a litre here, with current un-leaded at £1.18.

By next year it will be £1.25 and in twelve months £1.50.

Excuse my puntuation, I am on a train.

Happy Brexit--It was done to consolidate opinion and minds, not for welfare purposes.
Anonymous Coward
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10/07/2016 05:18 AM
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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
Fat finger comment made me wonder

Whats really going on here
 Quoting: Anonymous Coward 24296326


Anonymous Coward
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10/07/2016 05:26 AM
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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
its called a "shakeout". EU trying to hurt Brits
Anonymous Coward
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10/07/2016 05:27 AM
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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
peopel dont fat finger billions of dollars. it was an insider Short Sell, then after they shake everyon eout they buy it ALL at the new low and teh prioce goes back to normal except a trillion dollars changed hands from teh peopel to teh elite.
Anonymous Coward
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10/07/2016 05:30 AM
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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
its called a "shakeout". EU trying to hurt Brits
 Quoting: Anonymous Coward 73122775


they are trying to take advantage of automatic bids by dumping a load of low priced stock on to the market. it creates a dip and sometimes if the timing is right a chain reaction.
Anonymous Coward
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10/07/2016 05:38 AM
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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
FTSE was up 0.36 earlier higher than what I've seen prior Brexit news
Anonymous Coward
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10/07/2016 05:39 AM
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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
Its great news for British exporters. Their orders are only going to increase due to the prices now being even cheaper than their rivals.
 Quoting: Anonymous Coward 58242858


But something most people seem to forget is that the vast majority of component parts for finished 'British made' products, and most raw materials for things built from scratch, are imported. If the Pound keeps low then the costs of production increase dramatically.

The thing is that most inventories are purchased quite far in advance, with managers waiting for favourable rates. This is perfectly possible in a situation like the UK has become used to - when fluctuations are normally short-lived.

However, if the Pound stays low, then that dramatic and universal increase in component and raw material costs will feed through into the system.

That is when things will really become apparent. Even airlines tend to buy much of their fuel six months or a year in advance, to hedge their bets. Soon though, British companies won't have the option to hedge - their purchasing power will just be slashed, simple.
Anonymous Coward (OP)
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10/07/2016 05:42 AM
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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
FTSE was up 0.36 earlier higher than what I've seen prior Brexit news
 Quoting: Anderson_G


FTSE gonna go up because stocks are cheaper to buy internationally
Anonymous Coward
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10/07/2016 05:45 AM
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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
This is just the beginning they art going to feel the wrath of the EU
Did they really think they could just brexit when ever they wanted.
Anonymous Coward
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10/07/2016 05:52 AM
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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
FTSE was up 0.36 earlier higher than what I've seen prior Brexit news
 Quoting: Anderson_G


FTSE gonna go up because stocks are cheaper to buy internationally
 Quoting: Dumachii


It's still down in real terms, once you factor in the currency devaluation
Anonymous Coward
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10/07/2016 06:19 AM
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Re: URGENT: Pound Sent into Flash Crash Oblivion by ‘Liquidity Bubble’
Its great news for British exporters. Their orders are only going to increase due to the prices now being even cheaper than their rivals.
 Quoting: Anonymous Coward 58242858


We still export? I thought we exported all our business's to the EU?
 Quoting: Dumachii



UK exports enjoy biggest rise in 13 years

[link to www.belfasttelegraph.co.uk]
 Quoting: Tess.


Very slight margins as we do not export anything that has a wider impact on the wider community.

True, customers can buy british goods cheaper, but you are getting less dollars for them.

Also, to extrapulate, customers can buy more of your products and purchase less often consequently, or give them away to their friends.

A devalued pound does not increase profit potential, it creates dissolution.

I'm suprised at you, whoever you are towing the states line on this falsehood of a new economic dawn.. As a person who exports to virtually ever country on earth from the UK, I can tell you the story is very different.

By the way, have you noticed the un-reported escelation of fuel lately? We buy in dollars, the state ordered Milford Haven and the fuel suppliers to fill up their super tankers and moor them off the coast to ease in the huge catastrophic future and current rises in fuel.

However, it is happening now. A jump of 8-10 pence a litre here, with current un-leaded at £1.18.

By next year it will be £1.25 and in twelve months £1.50.

Excuse my puntuation, I am on a train.

Happy Brexit--It was done to consolidate opinion and minds, not for welfare purposes.
 Quoting: Anonymous Coward 73129654


The fuel thing - I was reading somewhere about the Saudis and Iran - I'll have to look it up, could be important in light of what you've said.

Edit: This is it, can't post link as its r**ters, but Google the title..

Iraq's OPEC revolt shows Saudi-Iran oil deal fragility





GLP