As @Sunchartist points out daily, almost everyone is missing the speed that the Indian Rupee is declining... its in free fall, down almost 18% this year... so far.1/ 
The Indonesia Rupiah is nearly as bad -15% this year...2/
The Chilean Peso is also suffering badly... -19% at its worst, before the pullback 3/
But the South African Rand has been the big one, outside of Turkey, Argentina and Brazil... -36% 4/
When currencies trend, they really trend, and tend to become hyper-reflexive in Emerging Markets and often go further than anyone thinks is possible... Anyone who is looking at the DXY to gauge the dollar is looking at the wrong thing. 5/
The GMI Multi Currency Basket of over 27 currencies, equally weighted vs the USD shows exactly how strong this dollar trend is. After 5 waves down and an A-B-C rally, new lows are on t horizon and maybe very significantly lower than the recent low... it's far from over...
