The USD just dumped across all major pairs after the recent sup­port in the USDJPY at 76.65 was just bro­ken, lead­ing to a huge plunge first in the Dollar-Yen, to a fresh post WW2 lowm and then in all other pairs. It is unclear what is dri­ving this: prob­a­bly some com­bi­na­tion of QE3 expec­ta­tions and tech­ni­cal trad­ing now that the bot­tom has been taken out. The sig­nal is irrel­e­vant: it all orig­i­nates at the cen­tral banks these days any­way. Expect immi­nent chat­ter of BOJ inter­ven­tion to pro­tect its exporters.

Intra­day:

Longer-view:

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