The US: Janet Yellen will be the new chairman of the Federal Reserve.
A dove (Ben Bernanke) is being followed by an ultra dove (Janet Yellen). Traditionally thechairman of the Federal Reserve holds a very powerful position, and contrary to, for instance,Stefan Ingves of the Riksbank, we rarely see decisions at interest rate meetings that are not inline with the Chairman’s vote. In that perspective, the nomination of Janet Yellen is bad newsfor our expectations of a scaling down of QE in December/January = negative for USD.
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Jyske Bank