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So far as the balance of funds was involved, for each the UK and for the US, there was no doubt that prime rates of interest within the Euro-dollar market had induced private non-residents of the US to carry bigger greenback balances, which lessened the circulate of US dollars to official monetary institutions, Christie (1967) This action had benefited the US funds stability on an official settlement definition Varied dangers had arisen from the market, particularly the increased dimensions of ?sizzling cash?