USD

@Dave

Do you know that your currency the British Pound was worth 516 Yen back when Margret Teacher was your prime minster around 1984.
And before the collapse of Northern Rock in 2007, one pound was worth 256 Yen, Today it worth 126.

i.e. from 1984 to 2010 it lost approximately 76% of it is value. Imagine if there was a Trader 26 years ago, went Long Cable at 516 yen. How much margin does he require to cove this drop? And more importantly how many years more he had to wait until the price get back to 516?

but the riddle is the auction went unexpectedly well ... yields fell why then does USDx fall...
i expected it to fall because i assumed the auction wouldn't meet demand. But bid to cover was quite good, so something is very wrong here.

Catnip, yes the dramtic fall today in DX almost equalled the dramatic rise yesterday. Both lacked structure. However the DX pattern prior to the 7yr auction had me on alert for an intra day fall of some degree. Sorry, I was referring to open positions I been running in gold, crude, audusd and gbpjpy basis daily timeframe.

Ignore, have you been a floor trader in your time ?

I find it a frustration not to be able to show decent charts in this forum, we could teach each other for sure. Chart capture links for viewing in adobe or whatever would be the answer. I would like to study your channels and in turn have stuff to show you or others.

Catnip, not much help explaining moves after the event, my charts showed me the direction on several instruments, no hedging to soak up profits. Get it right stay in, get it wrong get out, kiss is good.

USDx fell 50 pt in one hour when 5y 10 y yields dropped ... FED ?
No. That propelled EURUSD to 1327 and AUDUSD to 1018 and xauusd to 1413
don't know what happened. No neither EUR nor AUD got any stronger only USd weakened with CAD