- The euro surged as much as 1.6% against the dollar overnight as a rush of computer-generated orders caught traders off guard.
- The sudden move started under $1.05 and algorithmic orders snowballed above that level, causing what little liquidity there was on the year's last trading day to vanish.
- In minutes, the currency jumped to a high of $1.0653, forcing some dealers to take losses to cover positions.
- ETFs: FXE, EUO, ERO, DRR, ULE, EUFX, URR