Dollar Climbing In Holiday Trade
27 December 2018 - 1:35AM
RTTF2
The dollar is up slightly against all of its major rivals
Wednesday afternoon. Trading activity has been sparse as a number
of foreign markets remain closed for Christmas and Boxing Day
holidays.
There was also little to no economic data to drive the direction
of trade Wednesday. However, investors can look forward to the
release of weekly jobless claims, new home sales and consumer
confidence Thursday morning.
With little happening on the economic front, traders are keeping
a close eye on Washington. Members of President Donald Trump's
administration continue to downplay reports the president has
privately discussed firing Federal Reserve Chairman Jerome
Powell.
White House Council of Economic Advisers Chairman Kevin Hassett
told reporters Wednesday that Powell's job is "100 percent"
safe.
Asked if he meant the Fed Chairman's job is not in jeopardy by
the president, Hassett added, "Absolutely. That's correct."
The comments from Hassett come after Treasury Secretary Steven
Mnuchin also disputed the reports in a post on Twitter on Saturday,
claiming Trump disagrees with the Fed's policy but never suggested
firing Powell.
The dollar has climbed to around $1.1360 against the Euro
Wednesday afternoon, from an early low of $1.1416.
The buck has risen to around $1.2640 against the pound sterling
this afternoon, from a low of $1.2718 this morning.
The greenback slid to an early low of Y110.280 against the
Japanese Yen Thursday, but has since rebounded to around
Y110.945.
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