Dollar Recovers

From marctomarket.com

The US dollar is well bid. There are two overall drivers. First, it has been indicated that President Obama will nominate Janet Yellen to lead the Federal Reserve. This helped lift some uncertainty in the market, though generally speaking, it was well discussed and anticipated by investors, especially since Summer recused himself. Second, an exit strategy from the fiscal impasse appears to be in the works and has helped dial down the anxiety over a possible default, which most investors did not think likely. The US Dollar Index is trading at new highs for the month. A shockingly poor UK industrial production, once ... (full story)