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3 Oct 2013
Flash: Day three of the government shutdown – BTMU
FXstreet.com (London) - Derek Halpenny, strategist at The Bank of Tokyo-Mitsubishi UFJ see the odds of tapering any time soon are diminishing all the while the Government is partially shutdown, and that is not good for the dollar.
Key Quotes:
“Day three of the government shutdown and the sides seem wider apart after a meeting in the White House with Congressional leaders ended in stalemate and repeated accusations that it’s the other side’s fault”.
“Even markets in the US remain calm. The US sovereign CDS has popped higher but remains considerably below the levels hit in August 2011. Surely this stability can’t last! Initial claims will be released as scheduled today apparently although data releases are set to become more sporadic”.
“The longer this goes on with the Fed feeling partially blind on assessing the economy, the further away Fed tapering becomes. Not good for the dollar”.
Key Quotes:
“Day three of the government shutdown and the sides seem wider apart after a meeting in the White House with Congressional leaders ended in stalemate and repeated accusations that it’s the other side’s fault”.
“Even markets in the US remain calm. The US sovereign CDS has popped higher but remains considerably below the levels hit in August 2011. Surely this stability can’t last! Initial claims will be released as scheduled today apparently although data releases are set to become more sporadic”.
“The longer this goes on with the Fed feeling partially blind on assessing the economy, the further away Fed tapering becomes. Not good for the dollar”.