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.
American mutual funds are scouring Europe for bargains, snapping up Dutch oil drillers, French drugmakers and Swiss food producers on speculation the region’s rally is just beginning as the U.S. bull market ages.
The yen weakened versus the majority of its major peers as investors sought higher-yielding assets amid an advance in global stocks.
Five U.S. agencies will finish the Volcker rule tomorrow after more than three years of Wall Street resistance.