Revenge of machines: dollar’s flash crash to 10-year low

Original article by Michael Roddan
The Australian – Page: 15 & 20 : 4-Jan-19

The Australian dollar fell to $US0.6741 early in local trading on 3 January, its lowest level since 2009. The so-called ‘flash crash’ event was attributed to algorithmic trading. However, the currency recovered much of the lost ground and was fetching $US0.6968 late in the local trading session. Asian currencies, the US dollar and the British pound also fell sharply. Treasurer Josh Frydenberg says many factors influence the direction of the Australian dollar, noting that it is the world’s fifth-most traded currency.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, PEPPERSTONE GROUP LIMITED

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