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The U.S. dollar edged higher after the Wall Street Journal reported that President Trump will nominate Jerome Powell to replace Janet Yellen as Fed chair. Markets viewed Powell as a continuity pick.
A Powell-led Fed is seen as a gradual normaliser, so the dollar's reaction is modest. Currency moves of this size have limited direct effect on feed commodity prices.
wsj.comDaniel KrugerNov 1, 2017After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
