This website use cookies to improve your experience, when you visit our site.

Larry Summers withdrew from possible candidacy as Fed Chairman, USD reacts with losses

Proposed by President Obama for the office of Fed Chairman, the former Treasury Secretary Larry Summers has now surprisingly declared that he will renounce his candidacy. As the name of Summers was mentioned as a possible successor of Ben S. Bernanke, he was quickly a favorite for the post among investors. Summers is regarded as less open to a loose monetary policy, as the second potential candidate, Janet Yellen. The prospect, the next Fed Chairman could not stand for a tightening of monetary policy, the dollar was starting the trading week in almost all pairs with losses.

The pair EUR/USD rises currently 0.47% at 1.3359 and the GBP/USD shows a current increase of 0.39% at 1.5936. Against the JPY and the USD losing 0.30% at a current price of 99.05. The strongest loss the USD currently registered against the AUD. The pair AUD/USD rises to 0.87% currently at 0.9326.

Banner XM

Risk Warning / Disclaimer
The opinions of the author to market behavior do not constitute a solicitation to buy or sell any financial products, but are merely a personal opinion. When you go into the trade in leveraged financial products, you must be aware that a loss up to the amount of your deposit and in addition, can also be an obligation to arise. Make yourself familiar with the active trade or get independent advice before you invest your own money and use only invest money that you can get over the worst case.



Forex Brokers Reviews

  • Exness

    EXNESS is a Forex and CFD broker, operating in the Forex-Market since 2008. The company's headquarters is located in Auckland / New Zealand under the name EXNESS (NZ) Ltd and is autorized and...

    Read more: Exness

  • FXopen

    The Forex broker FXOpen founded in 2005, and one of the world's fastest growing providers. The company is headquartered in Auckland, New Zealand, as FXOpen NZ Ltd and has, in addition to the New...

    Read more: FXopen

Binary Options Brokers

  • 24option

    24Option is operating since 2009 as a broker for for Binary Options, and is one of the most established brokers. The company is regulated by the CySEC since 2013, and is licensed under the license...

    Read more: 24option

  • anyoption

    anyoption™ is a MiFID compliant broker which is specialized in trading binary options since its inception in 2009. The company is based in Cyprus, where it is licensed and regulated by the CySEC...

    Read more: anyoption