For the second time in a week, the market is running (not walking) away from the USD. Despite all the equity market exuberance over the taper, the USD is now unchanged from the FOMC decision and in relative free-fall for the world's reserve currency - on a scale we saw during last Friday's craziness... Treasuries are modestly bid this morning, equities are flat and precious metals are lower (thogh gold is recovering as the USD sinks)...

It seems the need to repatriate JPY and EUR into year-end is weighing heavy on the USD once again