20070810 0000 GMT. A short squeeze fired off yesterday, the news trigger being the BNP Paribas announcement of suspension for 3 hedge funds under their management which had assets exposure to subprime mess in the USA. No valuation means no redemption. ECB also panic and moved to add liquidity to euro zone system. BOJ today did the same. Technicals gave insight to the signal, so that the news was built into the charts.

EURUSD chart
USDJPY chart
GBPUSD chart
USDCHF chart