Greenback is driven by Fed leadership talk

Greenback is driven by Fed leadership talk

On Wednesday, the evergreen buck approached a three-month maximum versus the Japanese yen, backed by reports that Republican senators appreciated John Taylor as the next Fed Chair.

The Australian dollar turned to be the number one mover among key currencies, sliding 0.8% versus its American rival to a 3-1/2-month minimum after dismal Australian inflation data.

The US currency soared 0.2% versus a basket of key currencies, approaching its highest peaks for three weeks.

A Stanford University economist, Taylor is considered to be a promising nominee, who could put the major US bank on a path of faster interest rate hikes unlike current Fed Chair Janet Yellen does, whose term will be over next February.

The evergreen buck stood still, sticking to 113.87 yen, which is close to Monday's maximum of 114.10 yen that appeared to be the greenback’s highest reading since July 11.

The common currency was intact, keeping to $1.1761.

 

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