From zerohedge.com "Merry Christmas, you've got been stopped out of your FX trades." That is the message stop-out Santa despatched to for
“Merry Christmas, you’ve got been stopped out of your FX trades.” That is the message stop-out Santa despatched to foreign money merchants this morning following a session of untamed, rollercoaster strikes in cable and yen which noticed the British and Japanese currencies swing erratically as a handful of algos traded with one another whereas human have been largely away from their desks. Based on Bloomberg, which notes that “the foreign money market has confronted bouts of maximum volatility amid thinned liquidity throughout holidays in current instances”, the pound was quoted by ICAP as falling as a lot as 1% to 1.282 earlier than recovering to 1.296, whereas Bloomberg’s … (full story)