Dollar Dumps Most In 7 Years After Dudley Doldrums

Tyler Durden's picture

The US Dollar Index is crashing the most since QE1 was unleashed in Q1 2009. Following The Fed's Dudley-isms this morning desperately jawboning some dovishness back into markets, the USD has plunged but the ubiquitous risk-on rally in stocks is very evidently missing as USDJPY soars back above BoJ NIRP levels. Today's plunge is bigger than Dec 2015's ECB fail drop...

 

As Yen soars almost 3% in the last 24 hours, US Index is plunging against all the majors...

 

By the most since QE1 was unleashed in Q1 2009...

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wmbz's picture

Time to release the Bulltard?

Bryan's picture

...or ol' Yellen?

hedgeless_horseman's picture

 

 

the ubiquitous risk-on rally in stocks is very evidently missing

Better late than never.

ilion's picture

FX broker Vipro Markets telling clients today that a lot of Martingale and correlation strategies were getting smashed today. Expect more carnage to come over the coming days in commodity currencies.

Stuck on Zero's picture

The U.S. dollar is the worst currency. It's just better than the others.

KesselRunin12Parsecs's picture
KesselRunin12Parsecs (not verified) Stuck on Zero Feb 3, 2016 4:08 PM

My only question is...

 

When a doctor gets sick and another doctor doctors him, does the doctor doing the doctoring have to doctor the doctor the way the doctor being doctored wants to be doctored, or does the doctor doing the doctoring of the doctor doctor the doctor as he wants to do the doctoring?

digiblader1's picture

Today is the 3rd or 4th time in 2 weeks the US dollar has dumped more than 200 basis points on the Canadian dollar. Either Canada's economy is not as bad as thought or there's massive deleveraging in the CAD/USD trade and serious trouble in the US with the talk of QE4/NIRP and the Fed standing pat.. I mean, it's dropped 900 basis points off the high of 1.4692 a few weeks ago. Could we drop to 1.35 or less soon? Hard to say..

digiblader1's picture

Today is the 3rd or 4th time in 2 weeks the US dollar has dumped more than 200 basis points on the Canadian dollar. Either Canada's economy is not as bad as thought or there's massive deleveraging in the CAD/USD trade and serious trouble in the US with the talk of QE4/NIRP and the Fed standing pat.. I mean, it's dropped 900 basis points off the high of 1.4692 a few weeks ago. Could we drop to 1.35 or less soon? Hard to say..

SHEEPFUKKER's picture

This is classic. The Fed tells us for years how awesome everything is yet we had ZIRP and QE all the while, then we get a token(or fake) 25 bps rate hike, and a few weeks later they are talking dovishly? You can't make this shit up. 

new game's picture

clueless, their dot charts are not working. ha, maybe, just maybe if they left the building and got in touch with a few real economists, such as stockman or even check with the bond king, hey, they might even be able to steer the titanic from a direct hit to a glancing blow to the starboard. either way it's goin down...

BullyBearish's picture

Wait, I can hear it...singing, female singing, strong female singing...like a lady, a FAT lady...yes, it sounds like...

The Fat Lady is Singing!  It doesn't matter: jawboning, PPTing, lies and rumors...they're done, nobody trusts them, it won't matter if they message no further rate increase or if they start pumping QE again, gravity has the boulder and it's GOING DOWN!

Jack of All Trades's picture

Mr. Yellen will take a mulligan.  Drop rate back down and announce QE 5 (or whatever next one is - I've lost track). . .

new game's picture

dolla dump, classic shit mon...

LOL

TradingIsLifeBrah's picture
TradingIsLifeBrah (not verified) Feb 3, 2016 3:25 PM

3:30PM ramp came early today

roisaber's picture

Wow! Ramp on fucking nothing!

papaswamp's picture

...plus an Iranian 'minister' is saying OPEC is trying to cut production... might be another ramp rumor like the Russians pulled.

sony1's picture

All because Yellen can't hold a damn speech without propping up the market for the 5th time in a row. this is getting silly. What an unqualified biatch.

thismarketisrigged's picture

dollar having worst day vs the yen  in 7years, and yet of course that is extremly bullish for stawks.

 

of course now oil matters to the ''market'' even though when it fell from 110 to 40 in the past year and a half, stawks still went up.

 

i guess when the fed continues buying stawks outright, they needed a new excuse to distract the sheeple as the real reason y stawks r going up , so they use oil as an excuse

o r c k's picture

MayDay--PPT needed in the PM room!!

Atomizer's picture

Petrodollar should increase unless the flooding of oil continues. The iownian cunts are liberals fighting for taxpayer ethenol subsidized crap. 

Iowa, grow food. The rest of us will start oil extraction without your liberal handouts. It didn't work under Jimmy Carter, why do you think it will work now? 

As stated before on Zerohedge, we would buy 108 octane gas as kids in the 1980's. Fuck you liberal farming cunts. Stay a blue state Iowa. 

Trump 2016. 

yogibear's picture

Wlliam Dudley and Jim Bulltard will do anything to keep the stock indexes high.

It's not the Fed of the past but more of a Fed desperate to keep the facade that all is well.

Expect QE4 to be announced to keep things elevated,

Constant fed intervening. Free markets are gone. 

Jungle Jim's picture

What about gold?

Francis Marx's picture

See, one person opens their trap and the whole world rallies. I am amazed how much power a non-elected offical has?

To Infinity And Beyond's picture

One piece of paper is worth more than this other piece of paper.. Japan's newly invented "currency" is gaining value against our old dusty paper. We need MOAR!