US Dollar Decreased Against Major Currencies

Forex News

The US dollar declined against the major currencies, after significant growth since the beginning of the week, as the market speculates over the choice of the next head of the US Federal Reserve System.

The dollar fell after Politico reported that US Treasury Secretary Steven Mnuchin approved as head of the Fed Jerome Powell and Kevin Warsh. Although both of them are considered as serious candidates for the replacement of the current Chair Janet Yellen.

The euro is growing, although the risks of political and social upheaval in Catalonia remain. The single currency remains highly susceptible to any pullback from the ECB.