> How are you supposed to manipulate a currency pegged to the USD? To keep a peg you have to "defend" the value of said pegged monetry instrument. That means

> How are you supposed to manipulate a currency pegged to the USD? To keep a peg you have to "defend" the value of said pegged monetry instrument. That means when the value drops below the peg, the "owner" has to buy back the "currency" at a high enough value to keep in within the peg. They have to crash liquidate possibly long term investments, or use a credit facility. This is expensive. As you know, the value of traded things is defined by the current buy/sell price. If you are only trading a few thousand times a day, those people who trade have much more power. All it takes is a few million, and you can trade between a few accounts effectively setting the price of the market.