The first thing to realize is that the debt ceiling deal has a long road to travel, but at least in the Senate it sounds as though there's an agreement that can pass.
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Whether this can pass the House, where the agreement will anger Tea Partiers and progressives alike remains a major mystery.
Regardless, in early trading, the dollar is up 1% against the yen, against which the dollar has been getting killed. This is very early, and it's a long night ahead.
Nikkei trading starts at 8 PM ET.
