U.S. Fiscal Cliff Update
Moments ago the Republicans canceled the "Plan B" vote and decided to recess until after Christmas. The U.S. Dollar immediately strengthened across the board with the major commodity currencies (The Aussie, Kiwi, & Cad) weakening substantially. The failure to bring Plan B to a vote was a failure for Boehner, and now the question has been raised whether or not any agreement between Obama and Boehner will be passed by House Republicans.
If the stock market continues falling, the high yielding major currency pairs (AUD/USD & NZD/USD) should fall the fastest.
No comments:
Post a Comment