Fragmentation keeps yen flash crash cause murky, says RBA
But points finger at double whammy of low-volume Asia morning and algo trading
The fragmentation of foreign exchange trading is being blamed by the Reserve Bank of Australia (RBA) for preventing it from identifying a firm cause for the recent yen flash crash.
The central bank reported on its investigations into the events of January 3, when the yen appreciated sharply, by 3% in about 30 seconds, against the US dollar after the opening of the Asian trading session.
Ripples from the event spread elsewhere, including to the Australian dollar, which dropped about 7% against
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe
You are currently unable to print this content. Please contact customer services - www.fx-markets.com/static/contact-us to find out more.
You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@fx-markets.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@fx-markets.com
More on Australasia
Retail FX hots up in Australia as traders' risk appetite grows
Volatility in 2015 boosts retail activity, but traders prove fickle with platforms
Best Bank for Australian Dollar: ANZ
Australian bank takes advantage of global players reducing business in ANZ's core markets
ANZ pushes local presence across Asia
The Australian bank would like to become a top-five player in Asian currencies within three years, says global head of FX and commodities Eddie Listorti
