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

Will the CPI Crash the USD?
Will the CPI Crash the USD?

 The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!

Latest news

The Yen Sets New Lows
The Yen Sets New Lows

The Japanese yen fell to its lowest level against the US dollar in 33 years. Read the full report to learn the next target for USDJPY!

BlackRock CEO Supports The USD
BlackRock CEO Supports The USD

BlackRock CEO forecasts the Fed may have to raise rates further. The US dollar index (DXY) gains 130 points today. Read the full report to get more fresh news and technical analysis!

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

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