Financial markets around the world will open on Wednesday with a tinge of apprehension, not just because of developments in Greece or China, but because of an extra second. A "leap second" is being added to the world's clocks at midnight GMT on Tuesday, which could test the extremely sensitive trading systems of the modern algorithmic era, beginning with markets in Asia.
Speaking of the dollar, USDCHF has seen a major reversal over the last three days. After falling to a low of .9065 on Thursday, the pair saw a fierce rally to close the week, rallying by over 250 pips over the last 36 hours.
U.S. stocks fell, pulling the Standard & Poor’s 500 Index down from a record, and the yen strengthened as concern American lawmakers will fail to reach a budget deal overshadowed better-than-estimated economic data. Oil, gold and coffee led commodity gains as the dollar weakened.