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9 Oct 2013
USD weaker on Yellen headlines
FXstreet.com (Barcelona) - The USD is weakening across G10 currencies after the latest headlines out of Washington confirm that Yellen will be appointed as new Fed Chairwoman on Wednesday, with the official announcement expected by 3pm eastern time.
USD reaction a hint of what's to come?
The immediate reaction by the USD is indicative of a market betting for an early 'not so hawkish' stance by Ms.Yellen, a policy-maker well known to have fully endorsed Ben Bernanke's aggressive quantitative easing programs since the GFC in 2008.
USD shows some weakness
After coming down to test its daily pivot - London open - at 1.3560 along US hours, the EUR/USD was snapped back up towards 1.36 round number. Meanwhile, AUD/USD saw a spike towards 0.9450 resistance, with GBP/USD also regaining the 1.61 handle.
USD reaction a hint of what's to come?
The immediate reaction by the USD is indicative of a market betting for an early 'not so hawkish' stance by Ms.Yellen, a policy-maker well known to have fully endorsed Ben Bernanke's aggressive quantitative easing programs since the GFC in 2008.
USD shows some weakness
After coming down to test its daily pivot - London open - at 1.3560 along US hours, the EUR/USD was snapped back up towards 1.36 round number. Meanwhile, AUD/USD saw a spike towards 0.9450 resistance, with GBP/USD also regaining the 1.61 handle.