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USD Gets a Boost from Larry Summers as Potential New Chief of Federal Reserve

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A report in a Japanese newspaper that ex-U.S. Treasury Secretary Larry Summers will be named as Ben Bernanke’s replacement as chairman of the U.S. Federal Reserve sent the dollar up Friday morning.

The newspaper Nikkei reported that the announcement by U.S.President Barack Obama could come as early as next week, after the Fed’s Wednesday meeting.

The White House responded Friday by saying it hasn’t made any decision about the new Fed chairman.

Summers has already been tipped as one of the front-runners for the post, along with Janet Yellen, the current Fed Vice Chairman.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

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