XE Market Analysis: Europe – Nov 02, 2017

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The dollar has traded softer following reports run by MarketWatch and Bloomberg saying that Fed Governor Powell will be nominated to the Fed Chairmanship position later on Thursday. Powell is seen as one of the more dovish candidates for the top job at the Fed, similar to Yellen. Yesterday’s conclusion of the FOMC, meanwhile, predictably left policy unchanged, and while the Fed upgraded growth projections, core inflation was deemed to be remaining “soft.” The statement was consistent with an already discounted 25bp rate hike in December.