Lates News

After President Trump nominated Kevin Wash to be the chairman of the Federal Reserve, the US dollar has risen. Jefferies economist Mohit Kumar pointed out in a report that Wash's past speeches indicate that he will be more inclined to reduce the Federal Reserve's balance sheet in the coming years. Kumar stated that if inflation is seen as entrenched, Wash may still lean towards less accommodating policies. However, he added that due to Trump's policies, the threat of more tariffs, and the demand for countries outside the US to reduce their holdings of US dollar assets, diversification factors in trade outside the US are still at play. Currently, the dollar index has risen by 0.1% to 97.108, reaching an overnight high of 97.298, a one-week high.