I was looking at the USD/EUR exchange rates a few minutes ago (Saturday evening, Eastern Time Zone here in USA) at xe.com and noticed some sharp blips on it from earlier today.
The graph looked as shown below.
The times (on the X-axis) are in the GDT/UTC timezone but these fluctuations are from activity caused during Saturday. Notwithstanding that I assumed that the exchanges are closed on Saturday, the blips are interesting because the value after the blip is the same as before it.
Are these blips caused by
- some algorithmic trading happening during the weekends, or
- perhaps something in how xe.com calculates the currency rates, or
- something else?