First Market Reaction: The Dollar Is Up On Glimmer Of A Debt Deal

washington coin dollar

Photo: Wikimedia Commons

The first thing to realise is that the debt ceiling deal has a long road to travel, but at least in the Senate it sounds as though there’s an agreement that can pass.Whether this can pass the House, where the agreement will anger Tea Partiers and progressives alike remains a major mystery.

Regardless, in early trading, the dollar is up 1% against the yen, against which the dollar has been getting killed. This is very early, and it’s a long night ahead.

Nikkei trading starts at 8 PM ET.

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