The Sunday session already had a flash crashy feel to it, when the first casualty as said “feel” became reality was the Turkish Lira, which suddenly snapped, plunging as much as 15% (yes, fifteen percent against the dollar in a matter of seconds.
There was no news – besides the already tense sentiment that had dragged futures sharply lower – so it was either a fat finger or a macro fund getting stopped out at a huge loss.
More if we see it, but for now keep an eye on the yuan, which is also tumbling if not nearly as fast as the Lira. We expect a response from the US Treasury imminently, as Trump orders Mnuchin to intervene directly and start buying up billions of the the Chinese currency.
via ZeroHedge News https://ift.tt/2Zh8v1k Tyler Durden