Getting a queasy feeling about the dollar


Just when you thought it was safe to step back into the haunted house of global markets, another of the planks of near-certainty on which investors might hope to rely is reputedly creaking like rotting wood.

It’s enough to make you wonder whether there really is something spooky about the autumn season, with the clocks switching back in the northern hemisphere, where the financial forces of darkness mostly do their business. October is on record as being a disturbing month historically.
So what’s all that mystery about?

The first terrifying knock on the door was the Fed’s taper warning (even the echo by way of its reversal). The second was the debt-ceiling drama, for which a sequel is planned, and its slashing wound to credibility and creditworthiness.