USD / CHF (Swiss Franc) - both are viewed as safe haven currencies
FT

• Tangible Common Equity to Tangible Assets should be about 6% or higher for banks. So remaining losses are covered 3x by TCE
• Chinese imports of all industrial commodities took a tumble last month due to the Lunar New Year
• Copper was hit especially hard, local inventories have grown faster than demand because copper is being used as collateral for loans. If Chinese gov slows credit growth, then demand for copper should fall.
• Semiconductors (SOX) always tops and bottoms before the market because they go into everything.