Flash crash rocks euro

ROBOT traders sparked a ‘flash crash’ in the euro on Christmas Day after fears over elections in Spain.

The single currency dropped 3pc against the dollar in minutes to under $1.15, before recovering over the next six hours to almost $1.19. City analysts blamed automatic trades by computer programmes for the fall.

It happened when most people were off work, meaning just a few sales of the euro had a large impact on its price.

It came after separatists won a majority in Catalonia, fuelling fears of a new push for independence.