Past 24 hours have been volatile on the FX markets, so let’s see if this reflects in any way on the interbank spread stats.
Euro/Dollar’s long term average spread is point 33 pips and maximum separation has been 2.2 pips.
The pair has plummeted by a massive 1.52% or 176 pips to fall below the 1 15 level.
Spreads were slightly bumpy today at 5:10 in the morning as the rate was moving sharply lower, but 2.2 pips is the biggest gap you should have seen.
Next up is the Cable, which has a daily average spread of point 81 pips. Peak of 3 and a half pips was posted during the past 4 hours.
Pound/Dollar took a slide as well and it’s down by a massive 1.37% or 177 pips as it broke through the 1 28 level.
The high importance UK GDP was released today at 8:30 in the morning and that’s the time of the peak daily spread, but anything far above the max of 3.5 pips should be questioned.
And last up is the Dollar/Yen, which has long term average and maximum spreads of point 36 and 1.7 pips respectively.
The pair moved South by a total of point 52% or 58 pips, moving towards the 110 level.
US data run sent the spreads slightly higher yesterday at a half past noon GMT, but the peak separation was just 1.7 pips.
I’m Jack Everitt and that's all we have for Friday's Spike Controller.
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