Amusing fat finger error in Swiss Franc trading.
The news was first broken by Dow Jones FX Trader.
Overnight CHF fun. 1: there was a EUR20b bid in EURCHF resting at 1.20. Now 1.2017. 2: nasty fat-finger error in USDCHF. Traded at 90.00.
— DJ FX Trader (@djfxtrader) April 23, 2012
For those who don’t know, USDCHF is trading around 0.91, so a trade of 90.00 is an orders-of-magnitude error. Surely it will be wiped out and brief.
Here’s a chart. Note the big red line spike close to the middle.