Illiquid Year-End Trades Send GBP/USD Down Sharply

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Illiquid Year-End Trades Send GBP/USD Down Sharply

By Greg Michalowski on December 31, 2008 | More Posts By Greg Michalowski | Forex News By FXDD

The GBP/USD fell out of bed, briefly making new multi year lows (and new lows for the year) at the 1.4350 level. The pair came down from 1.4698 in the same hour bar. The pair has since moved back above 1.4500 in what is just insane trading conditions.

The move is being exagerrated by the illiquid conditions and could persist for the next hour before the market begins to die down.

FXDD will be closing today at 2:00 PM NYT and will reopen at 12:00 AM on January 2nd.

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