Since central banks abandoned their ultra-loose monetary policies, the macro landscape has become increasingly divergent, with greater dispersion across interest rates, economic growth, and inflation. Like a phoenix rising from the ashes, the recent resurgence of currency alpha after a decade-long absence is grabbing attention. The foreign exchange market, which is the largest and most liquid financial market in the world with trillions of dollars traded every day, has witnessed a reinvigoration of two underpinning strategies of currency alpha: momentum and carry....