Other than a short rally today, the dollar's been taking it on the chin as Washington squabbles. Here's how to trade it.
How about that dollar? Every time you turn it around, it seems to hit a new low against the Swiss franc, and it isn't doing much better against other currencies.
George Davis, chief technical analyst at RBC Capital Markets in Toronto, says the dollar has broken through some key support levels. What's really driving that, he says, is headlines. Davis is struck by how badly Washington is dealing with the debt ceiling — especially compared to Britain's approach last winter when the push was on to pass an austerity budget. Whatever you may think of treating economic weakness with fiscal tightening, they got it done.