USD – The dollar set a 16-month high against the euro on Monday after Federal Reserve Chair Jerome Powell was nominated for a second four-year term by President Biden.
Western Union Business Solutions noted that “with Powell being renominated for a second term, that suggests a less dovish outlook for monetary policy than under a potential Brainard leadership. It looks like there’s greater scope for US rate hikes under Powell with Powell remaining on as the Fed Chair, and that has been broadly positive for the dollar.”
Western Union Business Solutions noted that “with Powell being renominated for a second term, that suggests a less dovish outlook for monetary policy than under a potential Brainard leadership. It looks like there’s greater scope for US rate hikes under Powell with Powell remaining on as the Fed Chair, and that has been broadly positive for the dollar.”
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.