As the odds of a Fed rate-hike this century drift asymptotically back towards zero, the stability-desirous central bankers of the emerging world are suddenly facing soaring currencies as hot money floods back into Emerging Asian markets. The Rupiah and Ringgit are up almost 3% overnight as everything from the Baht to the Won are surging against the USD. Asian FX is up 6 straight days against the USD (and 8 of the last 9) for the biggest 9-day gain since May 2009. The China devaluation spike in The USD against Asian FX is rapidly being unwound... The Dollar Demolition of the last 9 days is the biggest since May 2009. As all EM FX is soaring... Led by a massive spike in Indonesia's Rupiah... So now what will the talking-heads say about a weaker USD? Especially in light of the fact that they crowed about a strong USD being indicative of a strong US economy... is The US now the dirtiest dirty shirt? Charts: Bloomberg