The DEC13 U.S. Dollar Index is down 8 ticks to 80.23. The USD has defied bulls’ predictions of a rally recently, as the taper has not come as soon as some had expected.
U.S. stocks rose, sending the Standard & Poor’s 500 Index above its record close, as investors weighed the timing of any cuts to Federal Reserve monetary support amid budget negotiations in Washington.
The stock market could use a healthy correction soon, before prices start rising at an unsustainable pace.
Tomorrow morning markets will react to the release of the November unemployment number. This release will be watched very closely as market participants look for clues for when the Fed might taper its $85 billion a month bond buying program.