Roles further reversed between the ultimate safe haven and the benchmark risk barometer to end the week. The dollar stumbled Friday, lifting EURUSD to its biggest advance in nearly two months following a very conspicuous decline.

Extreme can always be more extreme. Though EURUSD, AUDUSD, oil and many other risk-sensitive currency pairs / assets have tallied exceptional risk aversion runs; a natural correction to offer an overdue breather remains elusive.

Moody’s latest downgrade of 16 Spanish banks confirmed one of the dominating themes throughout the trading session. The Euro remains at its lowest level versus the Greenback since January.

The incredible bear trends behind EURUSD and AUDUSD were extended for yet another day Wednesday, but momentum is starting to visibly flag.