What had happened to US Dollar on 9/11

I now trade forex but I was not into the business 5 years ago when the Twin towers of WTC were collapsed. Can someone tell me what had happened to currency prices then? What change this incident brought to EURUSD and the other currnecy pairs involving US Dollar?

I was curious about this myself a few weeks ago and I looked back, and the daily high and low had a range of maybe 200 pips, about twice than normal but the open close range was just about 100 pips, normal, and overall the major currencies stayed in the trend through the week. So not much happened.

Black Wednesday was apparently more interesting.

What had happened on Black Wednesday?

do a google search for Black Wednesday and you'll have your answer

I was trading in London that day.
As the afternoon unfolded it seemed the magnitude of the events meant it was almost unethical to "sell the dollar". A number of Banks also stopped trading and refused to quote

Lots of us knew of friends,Brokers,other Traders who could possibly have been killed/injured and so trading became of secondary importance.

In the days following, I also think there may have been "directives" issued within the "Banking Community" to try and prevent a de-stabalising of the US$, stockmarket etc

There was a bonds and equities company on the 72 floor. They lost 358 staff of 500..

I do doubt anyone really traded that news. No one important anyway. Purely from respect and worry for alot of companies. As it was the world trade centre...

Well, there was some interesting evidence a while ago that showed the number of forex orders coming in from the middle east increasing significantly just before the attacks.

When some bombs went off on July 7th or so in London the GBP went down while CHF went up. This caused GBP/CHF to fall 550 pips in 24 hours. It was headed there anyways, but happened much faster than otherwise.

Some people made unusual stock trades on 9/11 that indicated foreknowledge. Millions of dollars in profits were made by those parties. The media reported this, as a clue to who was responsible, but after a day or two the story disappeared down the "memory hole". The government authorities would not report who the profiteers were from 9/11. The broker who processed the trades was closely associated with the CIA I've heard reported in the independent media.

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The SEC's Investigation

http://Shortly after the attack the ... </sup></font>¹⁶ A widely circulated article states that the stocks flagged by the SEC included those of the following corporations: American Airlines, United Airlines, Continental Airlines, Northwest Airlines, Southwest Airlines, US Airways airlines, Martin, Boeing, Lockheed Martin Corp., AIG, American Express Corp, American International Group, AMR Corporation, AXA SA, Bank of America Corp, Bank of New York Corp, Bank One Corp, Cigna Group, CNA Financial, Carnival Corp, Chubb Group, John Hancock Financial Services, Hercules Inc., L-3 Communications Holdings, Inc., LTV Corporation, Marsh & McLennan Cos. Inc., MetLife, Progressive Corp., General Motors, Raytheon, W.R. Grace, Royal Caribbean Cruises, Ltd., Lone Star Technologies, American Express, the Citigroup Inc., Royal & Sun Alliance, Lehman Brothers Holdings, Inc., Vornado Reality Trust, Morgan Stanley, Dean Witter & Co., XL Capital Ltd., and Bear Stearns.

An October 19 article in the San Francisco Chronicle reported that the SEC, after a period of silence, had undertaken the unprecedented action of deputizing hundreds of private officials in its investigation:

<table border="0" bordercolor="white" cellpadding="4" cellspacing="0"> <tbody><tr bgcolor="#f2f4ec"> <td class="quote"> <anon_quote> The proposed system, which would go into effect immediately, effectively deputizes hundreds, if not thousands, of key players in the private sector.
...
In a two-page statement issued to "all securities-related entities" nationwide, the SEC asked companies to designate senior personnel who appreciate "the sensitive nature" of the case and can be relied upon to "exercise appropriate discretion" as "point" people linking government investigators and the industry. ¹⁷ </anon_quote> </td> </tr> </tbody> </table> Michael Ruppert, a former LAPD Detective, explains the consequences of this action:

<table border="0" bordercolor="white" cellpadding="4" cellspacing="0"> <tbody><tr bgcolor="#f2f4ec"> <td class="quote"> <anon_quote> What happens when you deputize someone in a national security or criminal investigation is that you make it illegal for them to disclose publicly what they know. Smart move. In effect, they become government agents and are controlled by government regulations rather than their own conscience. In fact, they can be thrown in jail without a hearing if they talk publicly. I have seen this implied threat time and again with federal investigations, intelligence agents, and even members of the United States Congress who are bound so tightly by secrecy oaths and agreements that they are not even able to disclose criminal activities inside the government for fear of incarceration. ¹⁸ </anon_quote> </td> </tr> </tbody> </table> Interpreting and Reinterpreting the Data

An analysis of the press reports on the subject of apparent insider trading related to the attack shows a trend, with early reports hightlighting the anomalies, and later reports excusing them. In his book Crossing the Rubicon Michael C. Ruppert illustrates this point by first excerpting a number of reports published shortly after the attack:

<table border="0" bordercolor="white" cellpadding="4" cellspacing="0"> <tbody><tr bgcolor="#f2f4ec"> <td class="quote"> <anon_quote> </anon_quote>

1. A jump in UAL (United Airlines) put options 90 times (not 90 percent) above normal between September 6 and September 10, and 285 times higher than average on the Thursday before the attack.
   -- CBS News, September 26
2. A jump in American Airlines put options 60 times (not 60 percent) above normal on the day before the attacks.
   -- CBS News, September 26
3. No similar trading occurred on any other airlines
   -- Bloomberg Business Report, the Institute for Counterterrorism (ICT), Herzliyya, Israel [citing data from the CBOE] ³
4. Morgan Stanley saw, between September 7 and September 10, an increase of 27 times (not 27 percent) in the purchase of put options on its shares. ⁴
5. Merrill-Lynch saw a jump of more than 12 times the normal level of put opinions in the four trading days before the attacks. ⁵

<hr> [Excerpted ENDNOTES]
3. "Mechanics of Possible Bin Laden Insider Trading Scam," Herzlyya International Policy Institute for Counter Terrorism (ICT), September 22, 2001. Michael C. Ruppert, "The Case for Bush Administration Advance Knowledge of 9-11 Attacks," From the Wilderness April 22, 2002. Posted at Centre for Research and Globalization <www.globalresearch.ca/articles/RUP203A.html>.

4. ICT, op. cit, citing data from the Chicago Board of Options Exchange (CBOE). [...] "Terrorists trained at CBPE." Chicago Sun-Times, September 20, 2001, <www.suntimes.com/terror/stories/cst-nws-trade20.html>. "Probe of options trading link to attacks confirmed," [...] Chicago Sun-Times, September 21, 2001, <www.suntimes.com/terror/stories/cst-fin-trade21.html>.

5. ICT, op. cit.

¹⁹ </td> </tr> </tbody> </table> Ruppert then illustrates an apparent attempt to bury the story by explaining it away as nothing unusual. A September 30 New York Times article claims that "benign explanations are turning up" in the SEC's investigation. ²⁰ The article blames the activity in put options, which it doesn't quantify, on "market pessimism," but fails to explain why the price of the stocks in the airlines doesn't reflect the same market pessimism.

The fact that $2.5 million of the put options remained unclaimed is not explained at all by market pessimism, and is evidence that the put option purchasers were part of a criminal conspiracy. ²¹

<hr> References

<document nametopic="" nameident="stockputs" namesect="attack"> 1. Insider Trading Apparently Based on Foreknowledge of the 9/11 Attacks, London Times, 9/18/01 [cached]
2. Put/Call Ratio, StreetAuthority.com,
3. Profiting From Disaster?, CBSNews.com, 9/19/01 [cached]
4. Prices, Probabilities and Predictions, OR/MS Today, [cached]
5. Exchange examines odd jump, Associated Press, 9/18/01 [cached]
6. SEC asks Goldman, Lehman for data, Bloomberg News, 9/20/01 [cached]
7. Black Tuesday: The World's Largest Insider Trading Scam?, ict.org.il, September 19, 2001 [cached]
8. Suspicious profits sit uncollected Airline investors seem to be lying low, San Francisco Chronicle, 9/29/01 [cached]
9. Profits of doom, telegraph.co.uk, 9/23/01 [cached]
10. Profits of doom ..., 9/23/01
11. Black Tuesday ..., 9/19/01
12. Bank of America among 38 stocks in SEC's attack probe, Bloomberg News, 10/3/01 [cached]
13. Bank of America ..., 10/3/01
14. Raytheon, corpwatch.org,
15. Suspicious trading points to advance knowledge by big investors of September 11 attacks, wsws.org, 10/5/01 [cached]
16. Bank of America ..., 10/3/01
17. SEC wants data-sharing system Network of brokerages would help trace trades by terrorists, San Francisco Chronicle, 9/19/01 [cached]
18. Crossing the Rubicon, , page 243
19. Crossing the Rubicon, , page 238-239,634
20. Whether advance knowledge of U.S. attacks was used for profit, New York Times, 9/30/01
21. http://Suspicious profits ..., 9/29/...uts.html<br /> </document>

A few months ago there was a light aircraft crash into a building in the us, and that caused a 30 pip movement around 7.00p.m. gmt

As for 9/11 lost a fortune, the days events were such that it didnt even cross my mind to call my broker!

....Apparently none of the suspicious transactions could be traced to bin Laden because this news item quietly dropped from sight, leaving many people wondering if it tracked back to American firms or intelligence agencies. Most of these transactions were handled primarily by Deutsche Bank-A.B.Brown, a firm which until 1998 was chaired by A. B."Buzzy" Krongard, who later became executive director of the CIA.

More serious was an article in the Sept. 28, 2001 edition of the Washington Post stating that officials with the instant messaging firm of Odigo in New York confirmed that two employees in Israel received text messages warning of an attack on the WTC two hours before the planes crashed into the buildings!

The firm's vice president of sales and marketing, Alex Diamandis said it was possible that the warning was sent to other Odigo members, but they had not received any reports of such.

The day after, the Jerusalem Post claimed two Israelis died on the hijacked airplanes and that 4,000 were missing at the WTC.

A week later, a Beirut television station reported that 4,000 Israeli employees of the WTC were absent the day of the attack.

This information spread across the Internet but was quickly branded a hoax.

On Sept. 19, the Washington Post reported about 113 Israelis were missing at the WTC and the next day, President Bush noted more than 130 Israelis were victims.

Finally, on Sept. 22, the New York Times stated "There were, in fact, only three Israelis who had been confirmed as dead: two on the planes and another who had been visiting the towers on business and who was identified and buried."

Investigators from numerous government agencies are part of a clandestine but official effort to resolve the market manipulations There has been a great deal of talk about the insider trading of American stocks by certain Israeli groups both in Canada and Germany between August 26 and the Sept.11 attacks on the World Trade Center and the Pentagon.

Government investigators have maintained a diplomatic silence about a Department of Justice (DOJ) probe of possible profiteering by interested parties with advance knowledge of the attack.

On Sept. 6, 2001, the Thursday before the tragedy, 2,075 put options were made on United Airlines and on Sept. 10, the day before the attacks, 2,282 put options were recorded for American Airlines. Given the prices at the time, this could have yielded speculators between $2 million and $4 million in profit.

The matter still is under investigation and none of the government investigating bodies - including the FBI, the Securities and Exchange Commission (SEC) and DOJ - are speaking to reporters about insider trading. Even so, suspicion of insider trading to profit from the Sept. 11 attacks is not limited to U.S. regulators. Investigations were initiated in a number of places including Japan, Germany, the United Kingdom, France, Luxembourg, Hong Kong, Switzerland and Spain. As in the United States, all are treating these inquiries as if they were state secrets.


http://tbrnews.org/Archives/a048.htm

between $2 million and $4 million in profit

So!!! - Thats an everyday event.

70 times normal put volume. Depending on the option - that happens all the time as well. Rollovers and speculation of M&A, market rumours etc etc.

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This amazing clip was on Google Video (now back again here ), but was removed within hours of the story breaking. However, hundreds of people had already managed to download the clip and it has gone viral on the Internet and the censors won't be able to shut the lid this time. A You Tube upload is available here but we fully expect this to be removed soon. For your eyes only!

What does this video have to do with the topic of the thread? It only shows that BBC filmed something that MIGHT happen before it actually did. Thats all.

To quote a comment
"WTC 7 is right behind her fuckin head...as shes saying it has collapsed"
The topic is for your eyes only!!!

We get your point Mr. Anti America. Is there a need to spam a trading board with your highly subjective opinions?

I think Bush and Cheney flew the planes into the twin towers using remote controls.

I was home watching the news the morning when it happened and I distinctly recall a report coming into CNN from Bin Laden as a representative of Al'queda(sp?) refuting any participation in the event. I realize information was scarce at the time on what was actually happening, but I find it a bit odd that they would report it that way if it didn't happen. It just doesn't make sense. If they were going to manufacture a report, one would think they would have someone claiming responsibility as opposed to denying it. If Bin Laden had planned it, why release a statement denying involvement for something you planned as a political message? Then it just vanished never to be heard of again…

It wouldn't surprise me if it turned out the event was designed in some corner of the Whitehouse given the political situation at the time. I'm also not so deluded as to advocate that it actually was. It was what it was and knowing exactly what happened or arranged by who isn't going to bring the 3000 people back to life. It's best to look forward and improve our future then jadedly contemplate who is responsible for the horrors of history.

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I have a more interesting question: What happened to the spreads during that time. Did they go up 50 pips? I'm guessing that some brokers and LPs were hit...