Sterling under pressure after the “flash crash”. Error syndrome of the fingers fat? – The Sun 24 Hours

call it "fat fingers", a sort of syndrome of the fingers fat. Fingers, real or virtual that error, technological or human touch the wrong button, triggering the collapse of the markets. It happened this night to the pound in asian markets plummeted in the space of a few moments of 6.1% on the heels of sales that the have crushed to values never before seen for many decades.

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the exchange, process the robot-investors. Prosecution and defense of the algorithms

came a tap 1,184 against the dollar and then, two minutes later, bouncing up to 1.23, a level that leaves it still at a historical low in recent decades (here the real-time exchange against the dollar and the euro/pound sterling). In the evening, the british currency was left still on the ground over one and a half percentage points, both against the euro and against the dollar, a sign that the shock of the night was exceeded only in part. From the eve of the referendum of June 23 of last year, the pound has lost 14.7% against the euro and 16.4% on the dollar. The attack on the pound is still a mystery, but according to experts, the markets could be the human error of a trader who has broken down the media, triggering sales to repetition, or the hyper-sensitivity of an algorithm that is automatically activated by the processing of the comments reported by the Financial Times and attributed to president François Hollande on the Brexit.

In other words, the flash crash would have been caused by the interpretation hasty – human or mathematics – of the words of the head of the French State who have been "translated" into an encouragement to massive sales.

The bounce came two minutes later, and this confirms the theory of the error in trading rooms or, at least, of non-voluntariness.

"London has decided to proceed on the path of Brexit. And I think a hard Brexit and then I think you should go all the way"

François Hollande, the French president

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But what he told Hollande to crash the brain of an employee of the bank or the algorithm that regulates the trading of the pound?
Words and tones that allow us to imagine a tough battle on the terms of the divorce and the anglo european. “London,” said the French president – has decided to proceed on the path of Brexit. And I think a hard Brexit (output even from the internal market, ed.) and then I think we should go all the way”. A replica dry tone nationalistic, and self-dusted by the lady premier Theresa May at the congress is conservative. Severe enough to trigger a new, momentary crisis of the pound. Is it a mistake? Probably, but the sterling remains in the viewfinder. Now and for many months to come.

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