Pound Crashes Versus Dollar, Questions Remain Around Cause
The British pound plummeted during the early hours of Asia's trading day Friday, but a clear cause of the crash has yet to be identified.
The Wall Street Journal and the Financial Times both reported a number of factors that could have led to the drop.
French President François Hollande urged the European Union to be tough on Britain during Brexit negotiations, according to an FT story published around the time of the crash. While some speculated Hollande's comments could have initiated the drop, the FT reported traders have told them the fall started at 7:07.03 p.m. EST with the story going live at 7:07.13 p.m. EST.
The timing of
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