Yellen’s Endorsement Seals Seemingly Unstoppable Dollar Rally
- US Treasury Secretary’s view a big tick for dollar bulls: Saxo
- Market-determined value of greenback is in US interest: Yellen
Janet Yellen
Photographer: Samuel Corum/BloombergThis article is for subscribers only.
The dollar has been virtually unstoppable this year, and the one person with the power to arrest its gains isn’t standing in the way.
The greenback rose versus most of its Group-of-10 peers on Wednesday after US Treasury Secretary Janet Yellen said the currency’s strength is the “logical outcome” of different global monetary policy stances. Strategists say Yellen’s nod for a strong dollar will help power more gains in the world’s reserve currency.