GBPJPY short – stopped out for -72 pips

GBPJPY short – stopped out for -72 pipsJanuary 28, 201422.09 gmt, 28 JanSomething strange is happening – markets are suddenly jumping about wildly, spreads on this pair have suddenly increased to 7 pips, from the usual 3 pips! I can’t find any news but since GJ has gone past my mental stop I closed it.closed GJ short from 170.50 at 171.22, -72 pips, -2.9%.Edit: Apparently the market was in turmoil after Turkey raised its interest rate dramatically from 7.75 to 12%.I guess poor liquidity at this hour also exaggerates the moves. I am going back to sleep About these adsShare this:Email Facebook Google Related From → Trades

via Zen and the Art of FX Trading:

22.09 gmt, 28 Jan

Something strange is happening – markets are suddenly jumping about wildly, spreads on this pair have suddenly increased to 7 pips, from the usual 3 pips! I can’t find any news but since GJ has gone past my mental stop I closed it.

closed GJ short from 170.50 at 171.22, -72 pips, -2.9%.

Edit: Apparently the market was in turmoil after Turkey raised its interest rate dramatically from 7.75 to 12%.

I guess poor liquidity at this hour also exaggerates the moves. I am going back to sleep

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GBPJPY short – stopped out for -72 pips

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