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Dollar surges to fresh 16-month highs after Powell renominated as Fed chair

by Joel Frank
23 November 2021
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US President Biden yesterday announced that current Fed chair Powell would be renominated for a second term at the head of the bank. Markets saw a hawkish reaction as “dovish Brainard-led Fed” risk was priced out, which pushed the US dollar to fresh 16-month highs. The DXY is now testing a key Fibonacci level.

For more trading details, please check the hyperlinks with time stamp indicated from the video:

1:55 US DOLLAR INDEX

Tags: BrainardFedFOMCJerome PowellUS Dollar
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