Over the course of the fiscal impasse it became clear the Fed wouldn’t taper in October and probably not December. The market shifted to the January FOMC as a date but with the new government shutdown deadline at January 15, even that’s in question. Some prominent market watchers are even talking about June 2014 for the first taper.
None of this is a surprise but the FX market was unable to sell the dollar until now. Before, th…