
Pound Flash Crash Baffles Traders as Algorithms Blamed for Slump - tsyd
http://www.bloomberg.com/news/articles/2016-10-06/pound-plunges-6-1-percent-in-biggest-drop-since-brexit-result
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zigzigzag
Ah, the financial press.

 _> With the currency already in freefall amid concern about a so-called hard
Brexit, Friday’s slide took it to the weakest level since March 1985._

[https://finance.yahoo.com/quote/gbpusd=x?ltr=1](https://finance.yahoo.com/quote/gbpusd=x?ltr=1)
\- look at the 5 year view.

The currency took a sharp drop right after the vote, quite possibly as much
because the BoE said they'd engage in a massive QE (money printing) program as
the vote itself. Since then GBP/USD has acting fairly normal, as in,
continuing a general weakening trend that has been going on for several years
now. Zooming out to the ten year view shows what an _actual_ freefall looks
like as the relatively huge drop from $2 down to $1.50 during the financial
crisis hit. The movements of the past few days are quite small relative to
that.

But I guess freefall sounds exciting and showing a longer term graph is not.

