Today’s rambunctiousness in US equity markets as every company (even AAPL admitted this quarter would be more problematic from an FX perspective) rotates from ‘weather’ excuses to ‘currency’ excuses is not going to get any better as tonight, yet another world nation entered the ‘devalue-or-die’ brigade. Singapore’s MAS announced a surprise shift in the slope of their policy band – implicitly loosening policy and so the Singapore Dollar dumped over 160 pips against the USD, the biggest drop in almost 3 years, tumbling to its weakest since Mid 2010.