from ZeroHedge:
What was a miserable shortened week for the USD has gone from bad to worse in early Asia trading, when the Dollar index suddenly collapsed to a fresh 3 year low
While there is no specific catalyst for the suddenly collapse in the illiquid early Asian session, which sees many countries on extended Easter holiday, Bloomberg quotes traders that hedge funds are selling the dollar against virtually any currencies after National Economic Council Director Kevin Hassett said Friday that President Donald Trump is still exploring ways to remove Federal Reserve Chairman Jerome Powell, according to traders.
Writing in his cell as a political prisoner in fascist Italy after World War I, the philosopher Antonio Gramsci famously declared: “The crisis consists precisely in the fact that the old is dying and the new cannot be born; in this interregnum a great variety of morbid symptoms appear.” A century later, we are in another interregnum, and the morbid symptoms are everywhere. The US-led order has ended, but the multipolar world is not yet born. The urgent priority is to give birth to a new multilateral order that can keep the peace and the path to sustainable development.
