The Brexit has caused a lot of volatility in the market, so make sure you have been charged correctly with this weeks last Primary Dukascopy Spike Controller.
Euro/Dollar’s long term average spread is point 89 pips and the daily max is 10.3 pips. Both of the sides were 4.4 pips apart during the last 4 hours. The pair had a steep loss of 4.52% or 517 pips to reach the low of 1 0912, although it has recovered some of the ground. Spreads were at their highest just after 4.20AM this morning during the counting of votes for the EU Referendum, so make sure your broker has not charged you more than 10.3 pips.
Pound/Dollar has had a very large price movement, with the value of sterling slumping to a 31-year low on currency markets. As a result the Cable has a daily average spread of 3.15 pips and a max of 30.3 pips. In the last 4 hours both of the sides were 16.1 pips apart. The pair had a great loss of 11.94% or 1,793 pips, to reach the low of 1 3227, although it has since risen from the low. Spreads were at their highest at 1.08AM as the votes for the Brexit were counted, but check carefully to ensure you weren’t charged more than 30.3 pips.
And Dollar/Yen has also been heavily effected by the Brexit, and it has an average and maximum spread of 1.68 pips and 34.9 pips respectively. Following the trend the pair had a substantial loss of 7.4% or 791 pips, reaching the low of 98 96, but it has since recovered some of the ground lost. Spreads were at their highest yesterday at 11.18PM, around the time that the votes first starting showing that a Brexit was likely, but 34.9 pips is the biggest spread you should have seen.
I’m Celeste Skinner, and that’s how the market has reacted so far, check back in for the hourly updates to see how it continues to perform across the rest of the trading day. Goodbye.
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