"Reminds me of 3 years ago I should have predicted this"
Reminds me of 3 months ago I should have predicted this!
(SLR at $1.57). When people have to sell, buyers pull their bids.
The same applies in reverse. You may hate USD but when your liabilities are denominated in them, what's the choice?
And when everybody else's liabilities are denominated in them it gets even worse
