The Bank of Japan announced QE and a drop in interest rates (yet the want to Yen to drop, mind boggling).
Currencies have been a game for the last few months, one with no possible winners. The central banks all are rearranging the chairs on the Titanic. You know what happened with it.
1 month: In the lead: the Euro!
3 months: In the lead: the Aussie dollar!
Next move: the Euro. Expect some announcement for a downgrade of a PIIG country or something like that.
Got FXE straddles?