US Treasury Sec. Yellen tells bankers more mergers may be necessary – CNN

Matías Salord FXStreet

Treasury Secretary Janet Yellen told bank CEOs that more bank mergers may be necessary, CNN reported. The comments triggered risk aversion and weighed on the US Dollar.

“Sources tell CNN that bank mergers were discussed during Yellen’s meeting with bank CEOs”, the network reported.

Market reaction

The US Dollar extended losses across the board, with the DXY falling 0.40%. USD/JPY lost more than 50 pips, falling to 137.50 and XAU/USD jumped from $1,960 to $1,975.

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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