What is truth?

As the odds of a Fed rate-hike this century drift asymptotically back towards zero, the stability-desirous central bankers of the emerging world are suddenly facing soaring currencies as hot money floods back into Emerging Asian markets. The Rupiah and Ringgit are up almost 3% overnight as everything from the Baht to the Won are surging against the USD. Asian FX is up 6 straight days against the USD (and 8 of the last 9) for the biggest 9-day gain since May 2009.

The China devaluation spike in The USD against Asian FX is rapidly being unwound…

The Dollar Demolition of the last 9 days is the biggest since May 2009.

As all EM FX is soaring…

Led by a massive spike in Indonesia’s Rupiah…

So now what will the talking-heads say about a weaker USD? Especially in light of the fact that they crowed about a strong USD being indicative of a strong US economy… is The US now the dirtiest dirty shirt?

source:http://www.zerohedge.com/news/2015-10-08/dollar-demolition-extends-6th-day-emasian-fx-soars-most-over-6-years

Charts: Bloomberg

Tag Cloud

%d bloggers like this: