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Euro soars in holiday-thinned trade

Dec. 30, 2016 6:46 AM ETFXE, ERO-OLD, URR, DRR, ULE, EUO, EUFXBy: Yoel Minkoff, SA News Editor2 Comments
  • 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

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