Dow Jones reporting.
Regarding the US fiscal cliff, Citibank feels
‘Confirmation that a deal has been reached by Friday Dec 28. would probably bring about a 1% generalized USD selloff due to risk-on trading’
But failure to reach a deal would start to panic the market, the bank warning
‘We think it would lead to about a 2% USD rally on risk-off trading that day (28TH) and Monday Dec 31.’