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Flash Crash or the New Norm? Deciphering January 3
The foreign exchange industry got an early reminder of risk when on the second full day of trading this year the market saw another flash event. What, if anything, does this mean for FX market liquidity and volatility in the year ahead though? Colin Lambert finds out.The very sharp moves seen in FX markets at the start of the year triggered yet another round of introspection over conditions in the FX market with commentators pointing the finger of blame at one or more of algos, news from Apple, thin markets, Japanese retail and poor execution. Although Profit & Loss understands that industry players have been approached for data logs by certain regulators, the chances of an investigation turning up a convincing catalyst for the moves are thin.

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