Fragmentation keeps yen flash crash cause murky, says RBA
But points finger at double whammy of low-volume Asia morning and algo trading
The fragmentation of foreign exchange trading is being blamed by the Reserve Bank of Australia (RBA) for preventing it from identifying a firm cause for the recent yen flash crash.
The central bank reported on its investigations into the events of January 3, when the yen appreciated sharply, by 3% in about 30 seconds, against the US dollar after the opening of the Asian trading session.
Ripples from the event spread elsewhere, including to the Australian dollar, which dropped about 7% against
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