<img title="Operators in Japan watching as the value of the pound drops. Pic/AFP" src="http://images.mid-day.com/images/2016/oct/Japan-market.jpg" alt="Operators in Japan watching as the value of the pound drops. Pic/AFP" /> Operators in Japan watching as the value of the pound drops. Pic/AFP
London: Sterling suffered a dizzying &ldquo;flash crash&rdquo; against the euro and dollar yesterday in a computer-generated sell-off, sending Brexit shockwaves across markets after France warned of perils for Britain.
The pound plunged more than six percent against the dollar in under 10 minutes in Asian trading hours &mdash; at the end of a tumultuous week after Prime Minister Theresa May signalled she would trigger Britain&rsquo;s departure from the bloc by end of March.
A spokesman for the Bank of England said it was &ldquo;looking into&rdquo; the cause of the crash.
Speaking Thursday, French President Francois Hollande sent one of the strongest warnings yet that Britain will have to pay a heavy price for leaving the EU, while European Commission chief Jean-Claude Juncker said the bloc must be &ldquo;unyielding&rdquo;.
The pound fell off a cliff to strike a 31-year low at $1.1841, before rebounding back above $1.24. &ldquo;A lot of investors are still scratching their heads as to how and why it happened,&rdquo; said an analyst. Agencies
6% Drop in the pound sterling rate within 10 minutes

Sterling suffered a dizzying &ldquo;flash crash&rdquo; against the euro and dollar yesterday in a computer-generated sell-off, sending Brexit shockwaves across markets after France warned of perils for Britain

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Sterling suffered a dizzying &ldquo;flash crash&rdquo; against the euro and dollar yesterday in a computer-generated sell-off, sending Brexit shockwaves across markets after France warned of perils for Britain

Asia flash crash over Brexit warnings sends pound spiralling

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Home / News / World News / Article / Asia flash crash over Brexit warnings sends pound spiralling

Asia flash crash over Brexit warnings sends pound spiralling

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