I believe, and I'm an observer, that we have attracted a higher order of MM. Next step up the ladder.
I believe it is north american centric though.
The Asian angle might have a small fire burning, but what (I believe) I have witnessed...is paying attention to the market all day long and has a target of .39 in 3 weeks and .70 before the quarterly.
To any low-rung penny MM, its time to tread carefully.