Everything is near extreme levels
The risk off trade continues in the forex with the CAD, AUD and NZD all reaching new lows vs the USD (and low levels vs all currencies for that matter).
Looking at the rankings of the major currencies vs each other, the AUD leads the declines to the downside, followed by the NZD and the CAD. Below is the snapshot of the rankings with the cumulated % changes used to rank the relative strong to weak.
Comparing the changes to the start of the NY session (from 7:49 AM ET) shows the acceleration of the declines in those currencies. It also shows the acceleration of the gains for the CHF and JPY. The USD remains stronger but the EUR has caught up to it in the rankings.
