The US Dollar Index is up 5 weeks in a row and has just crossed above 99 for the first time since January 2016. As December rate-hike odds have surged since the Brexit vote, so the USD Index has tracked almost perfectly, rising almost 7% in that time (the fastest rise in 18 months)...
As Bloomberg's Richard Breslow noted, The Fed has a Plan A. Go for a
December rate hike and work the low and slow mantra to keep everyone
calm -- and the bubbles from bursting too quickly. There’s no Plan B because that will be decided by results and events as yet unknown.
As long as equities remain in demand, the drag on financial
conditions indices from a higher dollar or long-term rates will be
muted. And the excuse to ignore numbers which debunk crisis pricing becomes more problematic