Algos and fat fingers are getting the blame this week for some strange moves. While both blips were unsettling, they were also rapidly retraced.
A hiccup in EUR/SEK was first. It happened at 6.43am London time on Tuesday; very little appears to have gone through and the price immediately returned to the 9.50 area after a brief excursion to 8.1600. As that is where EUR/NOK was trading at the time, it seems a fair guess that some bleary-eyed trader unfortunately hit the wrong cross.
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