The pound fell against the dollar after it went through $ 1.6695, triggering stop loss orders.
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Hunter said a number of stop loss orders were triggered, which helped depress the bullion price.
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The pound fell against the dollar after it went through $ 1 . 6695, triggering stop loss orders.
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Stop loss orders are computer generated orders designed to limit losses when a security moves contrary to a trader's expectations.
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Players can also complete market orders, limit orders, buy to cover orders, short stop loss orders and even sell short.
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Dealers said funds were unwinding their long US dollar positions against the ringgit at the 3.8700 level which triggered stop loss orders.
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He said he has used, and recommends using, stop loss orders and puts and calls to lessen the risk of Internet investing.
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Dealers said funds were unwinding their long US dollar positions against the ringgit at the 3 . 8700 level which triggered stop loss orders.
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A stop loss order is one placed by a trader who wishes to protect his profits in the event commodity prices begin to fall.
10.
"The dollar fell just as Bergsten's comments hit the market, triggering stop loss orders at around 105.80 yen, " said Masahiro Yamaguchi, head of foreign exchange at Tokai Bank.
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