Andy Krieger

Definition - What does Andy Krieger mean?

Andrew Krieger was a currency trader at Bankers Trust who conducted a one-man raid on the New Zealand dollar (the kiwi) in 1987. Krieger used currency option to heavily short the kiwi. The value of his short position reportedly exceeded the New Zealand money supply. Krieger made several hundred million in profit for Bankers Trust.

ForexDictionary explains Andy Krieger

Krieger’s currency trade was carried out at a time when options were not well-understood in foreign exchange. He was able to move the entire market in the kiwi simply because New Zealand’s central bank wasn't ready to use options to fight back and didn’t have the capital to mount any other defense. Krieger left Bankers Trust after the kiwi raid and spent some time with another famous currency trader, George Soros.
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