It has become very apparent and what is a repeat of 2008, that players are paying up to buy/sell US Dollars in the forwards. This highlights there is a concern that we are going to see another rush into US Dollars (risk aversion) and that players are preparing themselves for such an event. This has also been highlighted through the 3-month Libor rate (the rate at which banks will lend US Dollars to each other) which continues to creep higher. These type of moves should be closely watched