Remember, when the pound moves down, it does it in great leaps and bounds.

The US Dollar also has some support against the pound and Canadian dollar, but is exceptionally weak against the Mexican peso and the Australian dollar.

Bottom line—as is usually the case, it’s a mistake to talk about the US Dollar as a single thing.

While the varying performance against different currencies makes it hard to trade, it’s a healthy development for the dollar. It means not everyone is on one side and also that events in other countries deserve attention and not just the US. We would single out the pound, where we have a slew of hideously negative stories this morning.

Remember, when the pound moves down, it does it in great leaps and bounds.