U.S. Dollar Rises As Waller Emerges As Potential Fed Chair Successor
(RTTNews) - The U.S. dollar climbed against its most major counterparts in the New York session on Thursday, as Federal Reserve governor Christopher Waller emerged as a top candidate to replace Chair Jerome Powell.
Waller, who favored a rate cut at the July meeting, reportedly met the president's team to assume the role.
President Donald Trump supported lower rates and Waller indicated willingness to adjust policy based on forecasts.
The White House has repeatedly criticized Powell for delaying rate cuts.
The greenback recovered to 1.1610 against the euro, 0.8089 against the franc and 147.58 against the yen, from an early 10-day low of 1.1698, 4-day low of 0.8043 and a 2-day low of 146.69, respectively. The currency is poised to find resistance around 1.14 against the euro, 0.89 against the franc and 150.00 against the yen.
The greenback recovered to 0.5931 against the kiwi, 0.6489 against the aussie and 1.3774 against the loonie, from an early 8-day low of 0.5967 and 10-day lows of 0.6541 and 1.3721, respectively. The currency may find resistance around 0.58 against the kiwi, 0.63 against the aussie and 1.39 against the loonie.
In contrast, the greenback fell to a 10-day low of 1.3436 against the pound. If the currency falls further, it is likely to find support around the 1.38 level.
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