Greenback holds upper hand as markets digest Fed choice

Greenback holds upper hand as markets digest Fed choice

On Wednesday, the evergreen buck held an upper hand versus other key currencies because market participants weigh the possibility that Donald Trump will opt for a more hawkish Fed chief than Janet Yellen, the current chair.

The US dollar index kept to 93.475. It managed to extend its rebound from Friday's 2 1/2-week minimum of 92.749. On Tuesday, it grew to 93.729.

With the major US bank actually expected to lift interest rates for the third time in 2017 in December, financial markets are currently looking to who’s going to head the Fed after Yellen's term comes to its end next February.

Having a pool of five nominees to choose from for the next Fed Chair, Donald Trump is expected to unveil his choice before leaving for Asia in early November, according to a source already familiar with the situation.

As the evergreen buck soared broadly, while the common currency dipped to $1.1770, being nearly intact during early Asia trade.

 

Similar

British pound dives to day’s minimums on UK inflation data

On Tuesday, the British pound went down to the day’s minimums versus the evergreen buck due to slowing inflation in December, which slowed for the first time for six months, hinting that the country’s cost of living squeeze relieved…

Popular

Japan real wages surge is slowest in almost two years

Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…

promotions you can be interested in

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera