After DXY support at 99 points were damaged on Tuesday due to powerful risk-on move, the currency continues to cede ground on Wednesday. Asian equities posted mixed performance; European stock indices apparently enjoy another day of gains. Gold tries to defend hard support at $1,700 per troy ounce, but hunt for yield seems to be gaining upper hand. The collapse of USD yesterday basically confirmed that the main trading theme in FX space remains “USD vs. risk-on” and all country-specific events affecting national currencies may not be reflected in USD pairs but rather finds its way in crosses. The tug of war between ... (full story)