What happened on July 10th?

There is a HUGE movement of price (~430pips) withing a few hours. What was the reason?

FOMC released the minutes from its last meeting, which showed several members became more reluctant to reduce QE until more definitive signs of economic growth were evident. Shortly after this, Bernanke's speech warned about inflation, and that unemployment figures might be hiding further weakness in the economy, hinting that easing might continue for longer than expected. More important than the event though is the atmosphere behind it - the USD was effectively dead for three days in anticipation of this event while everyone waited for clues about when the QE taper would begin, at this point it became obvious it wouldn't happen at the next meeting.

Thanks.

July 10, EURUSD

Culling the herd