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U.S. Dollar Volatility: Selling into the Rally
Trading the U.S. dollar in the direction of its overall (daily) trend continued to be a tough proposition. The market has rallied through the early morning session on anticipation of a deal passing the House and Senate today - landing on the President’s desk - well before the Midnight deadline. The government shutdown is for all intents and purposes, over. So far there is little reaction to the actual news since the market already bounced from 80.37 to 80.85. This, in large part, has been priced into the dollar; however, Dow futures will likely break through 15,300 on the news, and staying above that into the close ... (full story)