Dollar Drops on reports Fed to Replace Governor Powell Leading the race, Yellen





© Reuters.

Investing.com — The dollar fell sharply, adding to earlier losses, following a decline in bond yields, after a report suggested that Federal Reserve Governor Jerome Powell leads the race for the succession of Janet Yellen as the next Fed Chairman.

Federal Reserve Governor Jerome Powell is to be the leader, the Chairman of the US Central Bank after its President, Donald Trump closed a series of meetings with the five finalists Thursday, three government officials said, according to Politico report released Thursday.

Powell is widely regarded as the least radical candidate — apart from Janet Yellen, in comparison to his colleagues on the shortlist to head the Federal Reserve in February.

The dollar 0.32% commercial 93.00 fell while the US 10-year fell to is 2,318, down 0.98%



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