{"id":47768,"date":"2013-10-09T09:40:00","date_gmt":"2013-10-09T09:40:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-gains-as-nomination-of-janet-yellen-as-fed-chief-calm-down-investors\/47763\/"},"modified":"2013-10-09T09:40:00","modified_gmt":"2013-10-09T09:40:00","slug":"forex-market-update-dollar-index-gains-as-nomination-of-janet-yellen-as-fed-chief-calm-down-investors","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-gains-as-nomination-of-janet-yellen-as-fed-chief-calm-down-investors\/47768\/","title":{"rendered":"Forex Market Update: Dollar Index Gains as Nomination of Janet Yellen as Fed Chief Calm Down Investors"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p>The dollar index rose sharply on Wednesday amid rising speculation that lawmakers might reach a deal over the debt-ceiling just before the deadline even as news that Janet Yellen, who is perceived to have a very accommodating stance over monetary policy\u2014will be nominated for the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a>\u2019s Chairmanship, also calmed down global markets, lending support to the U.S. unit.<\/p>\n<p><span id=\"more-47768\"><\/span><\/p>\n<p>At last check, the dollar index, a measure on greenback\u2019s performance against a basket of six major traded currencies, 0.53% to 80.42.<\/p>\n<p>The WSJ$ Index was up 0.46% to 72.68.<\/p>\n<p>President Obama said he was willing to discuss on spending cut issue if House Republicans were ready to reopen the federal government and increase the debt-limit with no conditions attached.<\/p>\n<p>Meanwhile, President Obama is all set to nominate the Fed\u2019s no. 2 official, Janet Yellen as Ben Bernanke\u2019s successor. Appointment of Yellen as the Fed chairman would mean that the pace of scaling down of the bond purchase program will be not too fast.<\/p>\n<p>According Reuters, Jane Foley, a senior <a href=\"http:\/\/www.knowfinance.com\/currency\/\" target=\"_blank\" rel=\"noopener\">currency<\/a> strategist at Rabobank said that news of Yellen has lent support to greenback, adding that no one wanted to be short on the dollar as expectations are high that lawmakers will reach an eleventh-hour deal over the debt ceiling issue.<\/p>\n<p>\u201cThe Yellen news has cleared the air a bit. I think it is also just people not wanting to be on the wrong side of any dollar rally,\u201d said Foley, according to Reuters.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<div class=\"nr_popular_placeholder\" data-permalink=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-gains-as-nomination-of-janet-yellen-as-fed-chief-calm-down-investors\/47768\" data-title=\"Forex Market Update: Dollar Index Gains as Nomination of Janet Yellen as Fed Chief Calm Down Investors\"><\/div>\n<p><script id=\"mNCC\" language=\"javascript\">  medianet_width='600';  medianet_height= '250';  medianet_crid='814932888';  <\/script>  <script id=\"mNSC\" src=\"https:\/\/web.archive.org\/web\/20131011080224js_\/http:\/\/contextual.media.net\/nmedianet.js?cid=8CUT71M67\" language=\"javascript\"><\/script> <\/p>\n<p><!-- AddThis Button BEGIN --><\/p>\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a><br \/>\n<a class=\"addthis_button_preferred_2\"><\/a><br \/>\n<a class=\"addthis_button_preferred_3\"><\/a><br \/>\n<a class=\"addthis_button_preferred_4\"><\/a><br \/>\n<a class=\"addthis_button_compact\"><\/a><br \/>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n<p><script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script><br \/>\n<!-- AddThis Button END --><\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-surge-as-concerns-over-default-ease\/47813\"><br \/>\nStocks Surge as Concerns Over Default Ease<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-below-1300-silver-prices-mainly-flat\/47808\"><br \/>\nGold Prices Below $1,300, Silver Prices Mainly Flat<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-rally-across-the-board-as-concerns-over-debt-default-ease\/47806\"><br \/>\nStocks Rally Across-the-Board as Concerns over Debt Default Ease<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-steady\/47804\"><br \/>\nForex Market Update: Dollar Index Steady<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-gain-more-than-1-in-early-trade\/47801\"><br \/>\nStocks Gain More Than 1% in Early Trade<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-trade-near-1300-an-ounce-silver-prices-flat\/47794\"><br \/>\nGold Prices Trade Near $1,300 an Ounce, Silver Prices Flat<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-futures-gain-sharply\/47792\"><br \/>\nStocks Futures Gain Sharply<\/a><\/li>\n<\/ul>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/web.archive.org\/web\/20131011080224im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<p>Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/p><\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><!--script type=\"text\/javascript\">\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\n<\/script>\n<script type=\"text\/javascript\"\nsrc=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script--><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>The dollar index rose sharply on Wednesday amid rising speculation that lawmakers might reach a deal over the debt-ceiling just [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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