What Was Behind the Yen's 0.5 Percent Gain Spike?
The $5.3 trillion a day currency market can turn on a dime -- or a sen -- leaving traders and analysts hunting for a reason so they can decide which side of the move to take. Thursday’s 45 sen surge in the yen at 9:14 a.m. in Tokyo -- a 0.5 percent gain in 10 seconds -- was a case in point. Market participants expressed bewilderment as chatter grew about fat fingers, algorithmic misfires, poor liquidity and days-old comments from Japanese officials. Foenix Partners Founder and MD Richard De Meo discusses with Bloomberg's Anna Edwards on "Countdown."