#AceFinanceNews – Oct.10: This is an update report on Friday’s https://acefinance.wordpress.com/2016/10/07/markets-bank-of-england-says-it-is-looking-into-flash-crash-that-sent-sterling-plunging-6-overnight-pa-acefinancenews
As investors tested the water on Tuesday as the pound fell to its all time low and FTSE rose to its all time high, it was time for them to make a real killing as the Pound flash crash sends FTSE higher, Friday with gilts down
Sterling plummeted as much as 10 cents in just a few minutes of Asian trading on Friday, a “flash crash” that fuelled concerns about the vulnerability of the British currency while adding to the allure of the country’s corporate sector.
Pound’s “flash crash” strains bond, stock market nerves
Sterling lost as much as 10 percent of its value in just a few minutes of trading in a “flash crash” that fuelled concerns about the vulnerability of the currency and other British assets to investor worries about #Brexit.
But go back to just three days before and this happened the FTSE tops 7,000-point level, mid-caps hit record high as BBC reported that the FTSE 100 on track for record closing high as sterling falls
The FTSE 100 share index rises above 7,100 points for the first time since April 2015, while sterling falls to a 31-year low against the dollar.
FTSE 100 index rose above the 7,000-point level for the first time since May 2015 on Tuesday while mid-caps hit an all-time high after sterling fell following Prime Minister Theresa May’s announcement of a March 2017 deadline to begin the #Brexit process.
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