Scoreboard: House of cards

There was no clear relief rally on the US debt resolution, but big currency moves saw the Australian dollar spike.

The only surprise for me out of all of this, was that they couldn’t even be bothered to change the script – not even slightly. So with an hour to spare, the House agreed with the Senate to reopen the government (temporarily) and lift the government ceiling (also temporarily) and of course this all happened in our trading session yesterday. I wrote yesterday that the only impact out of this would be a taper delay and it looks likes markets agree – as some of the biggest moves overnight were on the US dollar and gold.

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