What just zapped currencies - USD Buying?

Discussion in 'Trading' started by downrivertrader, Mar 17, 2008.

  1. Anybody know what zapped the currencies around 11:45 EST?

    Somebody just hit the dollar buy button. CB?
  2. PPT
  3. WharfRat


    Verbal intervention - Market News is reporting "ECB officials to express concern about Euro".
  4. ?
  5. That was me. I shorted at 1.5787. I just covered at 1.5728

  6. Thanks
  7. do not believe anything. everything is in the chart. learn how to read it.
  8. jsmooth


    yea i've also been seeing a shit ton of similar type comments from traders and desk all morning...kinda makes you nervous about holding dollar shorts. i think its just a waiting game now though - we gotta see how the currencies react to the next cut, and see what the ECB has to say.

    i'm assuming a lot of yesterdays action (sunday late afternoon/Asia) was major panic liquidation and margin calls. the fed & BSC really caught everyone off guard releasing all that news on a weekend. volitility will probably dry up (as compared to the action the past 12 hrs) until we see what the fed does and the ECB/BOJ's response is to that.
  9. Hey thanks for the advice. My mistake.