Given the dollar’s reported travails, it is perhaps no surprise that ICE has seen a substantial increase in its dollar index futures. In terms of contracts traded, activity this year is already 17% higher than in 2008 and November is already a record month, with around 320,000 contracts having changed hands.
In nominal terms, average daily volume is running at around $1.4 billion, but it is important to remember that the actual value of each contract traded (index price multiplied by 1,000) is directly impacted by the dollar’s weakness.
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