{"id":98270,"date":"2020-04-01T13:55:06","date_gmt":"2020-04-01T17:55:06","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=98270"},"modified":"2020-04-01T13:55:06","modified_gmt":"2020-04-01T17:55:06","slug":"102894-gbp-aud-aussie-lower-despite-currency-flash-spike","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102894-gbp-aud-aussie-lower-despite-currency-flash-spike\/","title":{"rendered":"GBP\/AUD: Aussie Lower Despite Currency \u2018Flash Spike\u2019"},"content":{"rendered":"

The British pound<\/a> is higher against the Australian dollar<\/a> on Wednesday.<\/p>\n

Some are attributing a \u201cfat finger\u201d like sudden spike in the Australian dollar to the actions of the Australian central bank in government bond markets. The sudden move over 200pips in a split second comes after a \u201cflash crash\u201d of a similar size yesterday.<\/p>\n

The pound has been a top FX performer, albeit not always against the Aussie for the best part of two weeks. The biggest factor appears to be the new liquidity measures from the Fed that stopped panic selling the pound to get dollars to pay dollar-based liabilities overseas.<\/p>\n

GBP\/AUD<\/a> was up by 154 pips (+0.76%) to 2.0389 with a daily range of 2.0160 to 2.0502 as of 6pm GMT.<\/p>\n

Check real time GBP to USD exchange rate<\/span><\/a><\/div>\n

GBP\/AUD<\/a> slid 200 pips in seconds after touching 2.05, falling to 2.03 before rebounding to stabilise just under 2.04.<\/p>\n

British pound gains helped by Fed liquidity<\/h2>\n

London\u2019s position as the largest centre for FX trading globally has been one of the causes for the pound to benefit most from the Federal Reserve\u2019s recent new measures. The strength in Sterling came despite one of the biggest daily rises in the UK death toll from the coronavirus<\/a>.<\/p>\n

The Fed setup a new facility yesterday to allow foreign central banks to swap Treasuries for dollars. This is on top of swap facilities that allowed central banks to \u2018swap\u2019 other currencies for dollars. The result is that if big institutions need dollars, they can go to central banks and get them instead of selling other currencies in the \u2018open market\u2019.<\/p>\n

Australian dollar falls despite \u201cflash spike\u201d<\/h2>\n

A flash spike in the Aussie looked possibly from a \u2018fat finger\u2019 trade wasn\u2019t enough to put the Australian currency in the black for the day versus the pound.<\/p>\n

As a reminder, a \u201cfat finger\u201d trade describes a mistaken trade. The name comes from a situation where a trader might accidently add a zero or two to an order ticket, press the button and it gets filled in the live market, causing an abnormal spike in the price because of its size.<\/p>\n","protected":false},"excerpt":{"rendered":"

The British pound is higher against the Australian dollar on Wednesday. Some are attributing a \u201cfat finger\u201d like sudden spike in the Australian dollar to the actions of the Australian central bank in government bond markets. The sudden move over 200pips in a split second comes after a \u201cflash crash\u201d of a similar size yesterday. […]<\/p>\n","protected":false},"author":163946598,"featured_media":3641,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1547,1379],"tags":[1540,1394,1860],"class_list":["post-98270","post","type-post","status-publish","format-standard","has-post-thumbnail","category-aud","category-gbp","tag-aud","tag-gbp","tag-gbp-aud"],"acf":[],"yoast_head":"\nGBP\/AUD: Aussie Lower Despite Currency \u2018Flash Spike\u2019 - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/102894-gbp-aud-aussie-lower-despite-currency-flash-spike\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102894-gbp-aud-aussie-lower-despite-currency-flash-spike\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102894-gbp-aud-aussie-lower-despite-currency-flash-spike\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/AUD: Aussie Lower Despite Currency \u2018Flash Spike\u2019\",\"datePublished\":\"2020-04-01T17:55:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102894-gbp-aud-aussie-lower-despite-currency-flash-spike\\\/\"},\"wordCount\":382,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102894-gbp-aud-aussie-lower-despite-currency-flash-spike\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100064-gbp-lower-v-aud-political-fears.jpg\",\"keywords\":[\"aud\",\"gbp\",\"gbp\\\/aud\"],\"articleSection\":[\"AUD\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102894-gbp-aud-aussie-lower-despite-currency-flash-spike\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102894-gbp-aud-aussie-lower-despite-currency-flash-spike\\\/\",\"name\":\"GBP\\\/AUD: Aussie Lower Despite Currency \u2018Flash Spike\u2019 - 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