Presenting the creeping take over of the world by "King Dollar" over the past year... or heatmaps for FX dummies.
The charts below show which currencies of the world have been bloodied by the USD (red) or are victorious (green).
Naturally, in the past 24 hours, the USD is crushing everyone as the global liquidation and flight to "dollar safety" unwinds. After all, somehow the thinking goes that despite having $216 trillion in debt and unfunded liabilities [3]in 4 years, the Federal Reserve will simply pack up its toolbox (which really has just one tool inside of it - a printer), pretend it will not inflate away the debt, and just go home.
[4]
This is roughly the same as the performance of the USD over the past week:
[5]
Compared to a month ago however, quite a few parts of the world are still beating the "king":
[6]
And certainly compared to a year ago:
[7]
So: more upside for the USD? Or will the market remember that traditionally a soaring USD is a very bad thing for the market, and certainly not a good for US exports, which however are stoically taking the pounding if it means stocks rise. However, now that the USD is rising even as stocks are falling, how will multinationals, and rather the billionaires behind them, act from this moment on?