Dollar Drops Most In 2 Months As S&P Retakes 50DMA

The USD is getting pummeled once again today. Along with Friday's drop, this is the biggest plunge in the greenback in 2 months. This is not an exodus to JPY (for once JPY is very stable) but appears to be very much a European issue as EUR, SEK, and CHF are all surging against the USD. Treasuries are bid once again (with 5Y 16bps lower in yield from Friday's highs) and stocks are bid on negligible volume. The S&P just regained the mythical 50DMA (and the Dow 15,000) leaving stocks with the best 7-day run in 2 months (sure why not?).

The USD exodus begins?

for the biggest 2-day drop in 2 months...

stoking stocks back above the 50DMA...