Wash's Rebound Briefly "Fizzles Out," Dollar Returns to Depreciation Path

Odaily News After several days of rebound triggered by Trump's nomination of Kevin Wash as the next Federal Reserve Chair, the U.S. dollar exchange rate declined today. Michael Pfister, an analyst at Commerzbank, noted in a report that this nomination has led the market to anticipate the Fed will be led by a "hawkish" figure in the future. Although this nomination temporarily interrupted market sentiment towards a weaker dollar, he believes that "the fundamental conditions have not fundamentally changed." Pfister emphasized that compared to the average level of G10 currencies, the dollar has remained in a depreciation trend so far this year. (Jin10)