US Dollar Currency Index watchers have been reaching for the gin in recent weeks:
This was supposed to be a summer when the U.S. dollar would stand tall, pumped up by higher interest rates and the prospect of an improving economy.
But instead it's been sagging, with the dollar index losing 3.6 percent to 81.02 since July 10. On that day, Fed Chairman Ben Bernanke clarified the Fed's intentions about what it means to 'taper' its $85 billion a month in bond purchases. He emphasized that even with paring back of bond buying, the Fed would take its time pulling back from easing, and it has no plans to raise short term rates any time soon.
Read the rest from Patti Domm at CNBC here.
