Yellin’s dovishness seems to be overriding the the news that there is now a nominee ready for confirmation for the Fed’s chairman seat as the U.S. Dollar Index is enjoying a rally. With the decision being made, the market is jumping ahead to possible clarity on the quantitative easing and - more specifically - when the taper will begin. The shutdown has pushed some expectations for taper into March of next year meaning that Yellin will get busy after the New Year setting new expectations. I do not see that this delay in taper (no taper in 2013) has been priced in to the U.S. Dollar Index. Now into the ninth day of ... (full story)