Flash: Yellen – BTMU

FXstreet.com (London) - Lee Hardman, strategist at The Bank of Tokyo-Mitsubishi UFJ, Ltd, noted that, overnight , it was confirmed that Janet Yellen will become the next chairman of the Federal Reserve on the 1st February after the Senate voted 56-26 in favour of her nomination.

Key Quote:

“We continue to anticipate that her leadership will lead to a continuation of current Fed monetary policy favouring a gradual winding down of QE and placing greater importance upon forward guidance to help dampen upward pressure upon US yields”.