It's a flight to quality as well, the news seems to be creating this mass hysteria everywhere, there's panic that the world's about to end, so people are getting out of risk and putting their money in safe havens and the biggest one of those are 10-year Treasury bond.

Stuart Oakley

The whole world is in a wait-and-see mode, the next few months are going to be so pivotal for FX, purely based on when the Fed starts talking about tapering, and that is 100% down to how the data’s going to pan out this month and next month.

The next few months are going to be so pivotal for FX, purely based on when the Fed starts talking about tapering, and that is 100% down to how the data’s going to pan out this month and next month, the minute we get so much as a suggestion that some of that stimulus (has) moved, then everything’s going to change drastically.

I think the market is just pushing the Fed to cut rates, it's a flight to quality as well.