This is the Main Spike Controller for Tuesday with a closer look at the average and peak spread levels over the last 24 hours.
Euro/Dollar’s long term average spread is point 25 pips and maximum separation has been 2.4 pips.
The rate rose yesterday by point 53% or 59 pips to hit the high of 1 1269, but most of the gain has been given up.
Spreads peaked yesterday at 5:18 PM GMT shortly after the daily high was reached, but the max of 2.4 pips lasted just a single tick.
Moving on to the Cable, long term average spread is point 96 pips and max of 3.2 pips took place less than 4 hours ago.
Pound/Dollar gained point 75% or 99 pips yesterday to reach the high of 1 3348, but a following slide has wiped out most of the gain.
UK data run sent the spreads higher today at 8:30 in the morning, so let’s see what happened.
Both of the sides stayed separated for a number of ticks before a decline took place, but 3.2 pips is the line that shouldn’t have been crossed.
Last up is the Dollar/Yen, which has long term average and maximum spreads of point 37 and 1.7 pips respectively.
Daily high and low difference is 74 pips and it was posted as the rate declined by point 72%.
Last 24 hours have been calm in terms of spreads, they haven’t exceeded 1.7 pips.
I’m Kiays Khalil and you’ve been watching the Primary Spike Controller for Tuesday. Stay tuned for the hourly updates.
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