The leader of the conservative faction of the House Democrats has scuttled any chance of a health care reform bill. He says talks have broken down and now there is no possibility of a deal. The dollar rallied yesterday after the Senate said they would not take up the legislation until the fall, so a rally today on the news the bill looks stalled in the House could give it a lift again. Markets love gridlock, is the theory as big changes lead to uncertainty.
EUR/USD is dipping, now at 1.4219.
