The Dollar Is Getting Crushed

The euro and the yen are both surging against the U.S. dollar this morning following ECB President Mario Draghi's press conference earlier, which sparked a big sell-off in risky peripheral sovereign debt markets in the euro area.

The dollar index has been trending lower all morning, but just in the last few minutes, it's taken a big hit, and is currently down 1.2% on the day.

The euro is staging a breathtaking upward run and is currently up 1.4% against the dollar (!), trading at 1.3266.

eurusd

Thinkorswim

The yen is making a similar move. The dollar is now down 1.7% against the yen.

The yen is currently trading at ¥97.50 against the dollar after hitting a high of ¥97.30 just moments ago.

usdjpy

Thinkorswim

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