What’s the Damage?
Judging by the queries from clients in the aftermath of the debt ceiling deal, it is clear that markets want to see the delayed data released as soon as possible. Beyond the technical matters such adjust adjusting trading books, the focus will soon turn on gauging the overall ‘damage’ of the recent saga. On this topic, three aspects perhaps matter the most: standing, the economy and policy. All three carry risks to the dollar in various guises, but we still see policy as the most important.
Read the full report: UBS