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.
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.
More From Business Insider