While Stocks Rally, The Dollar Is Exploding Higher Against Gold And The Yen

All the talk today is about how the rally is based on ongoing loose policy from The Fed (Bernanke on 60 Minutes) and the Congress (the tax deal).

And yet, the dollar is having a great day, actually. The euro is up more, thanks to a day off from risk fears, but both.

But gold has plunged:

chart

And the dollar is surging against the yen:

chart

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