During yesterday’s morning trading session, the British Pound virtually crashed by 6,1% at a time versus the U.S. Dollar, Masterforex-V Academy experts say. On top of that, the experts say that this is the biggest daily crash shown by the British Pound ever since the U.K. decided to quit the European Union for good after the nationwide referendum conducted on June 23rd, 2016. Now, this decision is widely known as the Brexit.
According to Bloomberg, GBPUSD set a new major low at 1,1841. The currency pair dropped that low for the first time since early 1985. At the same time, Reuters reports that several marketplaces witnessed an even bigger crash over the same period. To be more specific, the price is reported to drop by as much as 10% – from 1,2600 all the way down to 1,1378. Experts called this incident “2 minutes of chaos”. Some of them believe that the situation might have been aggravated by HFT robots.
Not so long ago, Francois Hollande, President of France, urged the European Union to stay strong and tough in relations with Great Britain after the U.K. Prime Minister Teresa May promised to launch the Brexit procedure in early 2017, somewhere before March, to be more specific. Experts say that this was the key driver of the mentioned price crash seen in the market of GBPUSD.
