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Takeaway: The jig is up. Investors are losing faith in central planners' schemes.

Tick-Tock. Currency Moves Show Lack of Faith In Central Planners - Central bankers in corner cartoon 04.20.2016

With the Pound getting pounded and the U.S. dollar rallying, below is an afternoon currency market checkup with a breakdown of the big movers in macro markets. Much is changing and investors are just now beginning to hold unelected bureaucrats to account for their ineffectual policies.

Tick-Tock. Currency Moves Show Lack of Faith In Central Planners - currency checkup

The obvious callout is the post-Brexit Tumble in the pound...

Hedgeye CEO Keith McCullough in a note to subscribers this morning: 

"POUND – continues to crash, down another -3.4% vs. USD to $1.32 – signaling immediate-term TRADE oversold, finally – but this crash and the bearish TREND break-down in EUR/USD keeps the super-cycle (bullish) call for USD intact. There’s #Deflation risk in that." 

The pound is down -12% versus the pre-Brexit vote high against the U.S. dollar:

Tick-Tock. Currency Moves Show Lack of Faith In Central Planners - pound 6 27

Meanwhile, the U.S. dollar index is up +3.2%, over the last five days, as investors flee European assets:

Tick-Tock. Currency Moves Show Lack of Faith In Central Planners - dxy index 6 27

... That's also why the EURUSD is down -3.6% on the dollar strength:

Tick-Tock. Currency Moves Show Lack of Faith In Central Planners - eurusd 6 27

What may be the most significant callout of the year, in currency markets, is Yen strength, a move in direct opposition to Japanese central planners' intent. The USDJPY cross is down -15% year-to-date, despite the BOJ's best efforts. In fact, Japanese government and BOJ officials met today to discuss how best to counteract Yen strength.

Tick-Tock. Currency Moves Show Lack of Faith In Central Planners - yen strength

What's happening in Japan is perhaps most emblematic of our Q2 Macro Theme, outlining the breakdown in the central planning #BeliefSystem

It's happening all over the world.

Bottom line: The jig is up. Investors are losing faith in central planners' schemes.