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The Dollar Is Getting Crushed

Matthew Boesler

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.



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