U.S. dollar shorts mount before Yellen outlines market-based policy
Ruth Carson, Bloomberg News Janet Yellen, chair of the U.S. Federal Reserve, listens to a question during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, D.C., U.S., on Wednesday, Dec. 13, 2017. , Bloomberg
Investors may take Janet Yellenâs expected endorsement of a market-driven exchange rate as an additional green light for the U.S. currencyâs long-term downtrend.
The U.S. Treasury Secretary-designate will affirm the U.S.âs commitment to a market-determined dollar value on Tuesday, the Wall Street Journal reported. The comments could fuel speculation authorities will not object to a softer greenback, which earlier this month fell to a two-year low against its major peers.
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