Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Secret_Agent_Man who wrote (24511)	11/20/2009 10:09:30 AM
From: RockyBalboa	1 Recommendation Read Replies (1) \| Respond to of 71442

ICE probing spike in dollar index futures By Steve Goldstein, MarketWatch LONDON (MarketWatch) -- The IntercontinentalExchange is probing trades in U.S. dollar index futures that briefly showed a massive 9% jump on Friday morning. The lead contract surged as high as 82.18, up from a 75.38 close on Thursday. Such a move was improbable given that in spot markets, the dollar's moves against major currencies such as the euro were limited to about 1%. See Currencies. The ICE agreed, and according to an exchange official, all trades above 76.50 were being cancelled. The ICE was still investigating the cause of the incident, the official said. Dollar index futures were still elevated after the incident, up a more modest 0.7% to 75.91. The move briefly had an impact on other markets, as futures on the Dow Jones Industrial Average fell as much as 99 points. U.S. stocks and the dollar have been moving in opposite directions of late, with traders tending to borrow against the low-yielding greenback to reinvest in other assets. That process is reversed when traders are less willing to take on risk. Steve Goldstein is MarketWatch's London bureau chief.