No Data Delivers A Directionless Dollar

From oanda.com

The overwhelming consensus has many continuing to see a last minute deal that avoids a default by the US government. Even the rating agencies are managing to get onside with the same thought – Moody’s says there is a “very low” chance of default occurring. Mind you, if the US happens to miss a payment, the rating agencies will likely respond by putting the US in “selective default” until the payment is made. However, a “default is a default” and any default could end up impacting the US’s own ratings. Previously, Moody’s and Fitch still gave the US the highest rating, while S&P’s showstopper was ... (full story)