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Wosh nomination triggers tapering expectations, and the US dollar index hits a one-week high
ChainCatcher news, according to Golden Ten, the dollar rose after President Trump nominated Kevin Walsh to be the chairman of the Federal Reserve. Jefferies economist Mohit Kumar noted that Walsh will tend to shrink the Fed’s balance sheet in the coming years. If inflation is seen as entrenched, Walsh may adopt a less accommodative policy. The US Dollar Index is currently up 0.1% at 97.108, having hit a one-week high of 97.298 overnight.