USD takes a 20p dive, then stalls
According to Politico, D.Trumps’ choice may be going to the candidate of the least resistance from Reps to Dems.
He’s leaning towards the “neutral dovish” side so to express, but would be seen as predictable and in continuity, hence the dip in the USD but not a fall out of bed.
Mrs Yellen met with Trump for half an hour, short he(?) but nothing has transpired from the meeting. She in turn would encounter quite a bit of resistance from the Republican side.
A reminder here of the Doves/Hawks in the Fed’s officialdom.
EUR is the real winner in this move, in line with today’s moves and Powell seen as a stable and pro risk choice.
EURUSD 1.1850, USDJPY 112.55,CABLE 1.3160,USDCHF 0.9765,
EURJPY 133.38,EURGBP 0.9005, EURCHF 1.1567