Reuters offers insight into how Brexit headline blizzard is overloading FX algos

Reuters offered insight into how machine-driven trading systems in the $5.1 trillion-a-day global currency market are struggling to cope with the blizzard of headlines about Britain’s efforts to extricate itself from the EU, making it more expensive and risky to bet for or against sterling. As a divided government battles a divided parliament over a way forward, the chorus of characters who can now influence events has grown, flummoxing news-reading algorithms, or ‘algos’, which are designed to parse phrases from recognized speakers before executing a trade.