Dollar extends gains after Powell's nomination

2021-11-22 23:53:21 GMT (Economies.com)
Dollar extends gains after Powell's nomination

The US dollar rose against most currencies on Monday, after the White House decision to nominate Jerome Powell as Federal Reserve Chairman.

 

US President Joe Biden has formally nominated Jerome Powell to serve as the chairman of the Federal Reserve for a second term, and also Lael Brainard to serve as the Fed’s vice chair.

 

Biden renewed confidence in Powell's steady leadership in times of crisis, which comes amid rising inflation in the US.

 

Recent data showed that the US inflation rate jumped to the highest level since 1990 at 6.2% in October.

 

Austrian government announced a $4,000 fine for those refusing to take the coronavirus vaccine starting in February.

 

The dollar index rose against a basket of major currencies by 0.5% to 96.5 points as of 19:49 GMT, after hitting a high of 96.5 points and a low of 96.04 points.

 
 
 
  Symbol Last Change Chg.%
1.1323
0.0053
0.4685%
1.3325
0.0015
0.1101%
Tadawul
10810.60
-60.02
0.55%
22.819
-0.226
0.979%
67.644
-4.757
6.570%
71.61
-1.83
2.49%
1792.985
7.895
0.442%
 
 
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