Dollar Update


The dollar slide against the RMB was accelerating and it appeared to be breaking down against other currencies, but then end-of-quarter demand from Yen carry traders gave it a a boost against the Yen. This week China is enjoying aa vacation, so the RMB rate is fixed. In the meantime, the dollar has been catching its breath.

In general, the rebalancing process seemed to take a break in much of August and September. More on that after I see the data from the Fed tonight.