Thanks for that, appreciate the clarification. Sounds pretty...

Thanks for that, appreciate the clarification.

Sounds pretty confusing once you factor in the three way relationship, not even quite sure which currency (or currencies) I should be 'cheering' on.

Looking at overnight as an example, USD lost about 0.7% to GBP and EUR, European markets were down by a similar amount, and AUD also lost a similar amount to USD...IEU down about 0.4%.