1.   When investors sell Marks for yen, they generally sell Marks for dollars first and then sell the dollars to buy yen.

2.   Also, traders sometimes move from lire to marks by first selling lire for dollars, then selling those dollars for marks.

3.   Also, investors sometimes execute such trades via the dollar, selling lire and other currencies for dollars, then selling those dollars for marks.

4.   Also, some trade between European currencies occurs through the dollar, meaning traders sell other European currencies for dollars, then sell those dollars for deutsche marks.

5.   Also, some trades between European currencies are done through the dollar, meaning traders sell marks for dollars, then sell those dollars for other currencies.

6.   American investors are also discovering the allure of markets abroad and selling dollars to buy foreign currencies, stocks and bonds.

7.   An default would encourage investors to leave U.S. financial instruments, such as stocks and bonds, and sell the dollar from the proceeds.

8.   An effort to sell the dollar would be aimed at weakening it.

9.   And because many mark-yen transactions are executed through the dollar, some traders were buying dollars for marks and then selling the dollars for yen.

10.   And if international investors sell bonds, they may sell dollars too as they switch their money to another country.