Bank of England governor Mark Carney has asked the Bank for International Settlements (BIS) to investigate Friday's flash crash in sterling which saw it fall to a fresh 31-year low.
Sterling fell by 6% in two minutes in Asian trade on Friday morning to $1.1841, a new 31-year low for the currency. However, it then quickly rebounded to $1.23 against the dollar, leaving raders were left to speculate about the reason for the crash. Speaking on Friday in Washington, Carney (pictured) said he has asked the markets committee of the BIS to investigate what caused the currency's falls. The committee will look at the possible causes for the crash, examine other flash crashes in the market and review lessons learnt from them. Carney rules out negative rates as BoE ann...
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