Dollar Rally

Post 30 year Auction results,which were good, Dollar index took another leg higher,Not good for markets that were already dealing with heavy position unwinds further accelerated by stops.3 min dollar chart with 12:00 auction horz line

Todays action is one big position Unwind from the dominant trend over the sort term. Cylical/Defensive stocks -5%,Russell -6.7% Airlines index -11% Hotels -9.4%.Bloomberg Financial Conditions index down for 4th consecutive day

Spot returns majors vs USD

EM spot returns

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