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Larry Summers withdraws his nomination. USD reacts!

Larry Summers has withdrawn his name for the job of the Chairman of the Federal Reserve This will be bearish for the USD as Summers was perceived in the markets to be in favour of a slightly faster ‘taper’ than the other prime contender for the job, Janet Yellen Wall Street Journal: Summers Withdraws Name of Fed Chairmanship USD is weaker on the news:
  • EUR/USD 1.3337
  • USD/JPY 98.94
  • AUD/USD 0.9312
  • GBP/USD 1.5910
  • USD/CHF 0.9276
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Tatiana_Tim avatar

good luck to Summers

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