Collapsing is a bit of an overreaction… you presented a zoomed in view without any context. The pound has done much worse in October of last year and in April.
The others are not as bad either if you zoom out. Dropping? Certainly. Collapsing? Ehh not so much. Could be more or less regular fluctuations.
Indeed “collapsing” is an overstatement, so far. But things smell horrible in global FX land right now.
Gives me queezy feeling I’ve only had a few times in 33 years of working/investing in global bond markets.
A rupture point is approaching. Before 2H 2025 is my guess. 💵 💴 💶 🔥
This represents a monster global bond selloff. I will stick to my view that many global fiat currencies are collapsing right now.
