07-10-2016 13:05 via uk.news.yahoo.com

"Flash crash" decimates sterling

By Anirban Nag LONDON (Reuters) - Sterling lost a tenth of its value in minutes on Friday, in what traders said was a "flash crash" driven by computer-initiated sell orders that left the pound at a fresh 31-year-low and heading for its worst week since January 2009. The pound has been under pressure for most of this week as anxiety grows that Britain will opt for a "hard" exit from the European Union. The drop in Asia came after French President Francois Hollande said the EU needed to remain fir
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