Two scenarios:
- The appetite for US stocks is so strong that they repeatedly shrug off volatility and we get a massive rally through year-end that inevitably spills over to USD
- This sucka will crack on the next piece of bad economic data or when 1600/1597 in the S&P 500 breaks.
I lean to option number 1 but the risks skew equally because while there could be a series of 0.7% rises like today, if it goes down it will be 3-4% in a flash.