Rand falls foul of a fat finger
27 August 2015 - 02:09
There was anguish on Monday as the rand plummeted to R14 to the dollar - a new record low. But that dismal record might not stand. The R14 figure derived from a single trade made in Tokyo, a transaction now being described as a "fat-finger trade".If statisticians agree that the "fat-finger" deal of R14.0682/$1 was an anomaly, and perhaps a mistake, the rand's record low will revert to the previous mark of R13.84, plumbed in 2001.The single trade triggered stop-losses, which began attempts to buy the rand at that level. The currency rebounded to about R13.31/$1...
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