- The US dollar was on the chopping block for a second day through Thursday as the fallout from the FOMC minutes continued to eat away at the currency’s run to multi-year highs.
- The Dow Jones FXCM Dollar Index (ticker = USDollar) suffered its biggest two-day drop since November 30, 2011.
- For EURUSD, the two day dollar sell-off led to its best two-day rally since January 2011 – notably the start of a significant bull leg for the benchmark pair.
- With the dollar tumbling and equities rising, it would seem that the ‘risk on’ / ‘risk off’ theme is once again in charge – to the detriment of the safe haven."
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