Greenback soars as Fed leadership rumors send up American yields

Greenback soars as Fed leadership rumors send up American yields

On Tuesday, the evergreen buck ascended versus its counterparts, underpinned by a soar in Treasury yields reacting to a report that Donald Trump was appreciating a policy hawk as the next head of the major US financial institution.

Treasury yields rebounded from two-week minimum and rallied after Monday’s report that Donald Trump was generally favoring Stanford economist John Taylor, considered as more hawkish compared to current Chair Janet Yellen, to become the head of the Fed.

On Thursday, Donald Trump is expected to meet Yellen as part of his search for a fresh nominee for her position, as a source already familiar with plans for the gathering revealed.

The US dollar index tacked on 0.05% versus a basket of six key currencies hitting 93.365 having soared 0.25% overnight.

On Friday, the index had stuck to a 17-day minimum of 92.749 in the wake of dismal American inflation data.

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