Fat-finger error seen as sterling slumps; Asian shares dip Sterling plunged to a three-decade low in thin early Asian trade on Friday as a break of key technical support levels triggered a wave of stop-loss orders.
The pound fell almost 10 percent at one point to USD 1.1378 before stabilising around USD 1.2415, still down 1.5 percent from late US levels, leaving traders scratching their heads in the absence of news or market events that would justify such a move.
Asian shares dipped but held not far from the 14-month high touched last month ahead of the US jobs report later in the day, with MSCI’s broadest index of Asia-Pacific shares outside Japan down 0.2 percent and Japan’s Nikkei slipping 0.1 percent.
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Asian shares dipped but held not far from the 14-month high touched last month ahead of the US jobs report later in the day, with MSCI’s broadest index of Asia-Pacific shares outside Japan down 0.2 percent and Japan’s Nikkei slipping 0.1 percent.
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