Big day for the US dollar today — making gains against everything.
The temptation will be to credit flows, the Fed and the reversal in stock markets but what will be left out are there are signs that the US will be a leader in the worldwide recovery, at least among the most-developed countries.
It’s hardly a stretch to say that the Fed will hike rates before the BOJ and ECB. The money on the sidelines and in bursting corporate war chests will likely find its way to the US even if growth shows the slightest sign of an uptick.
