US-dollar rate starts to rise because of Taylor

Baku. 17 October. REPORT.AZ/ Exchange rate of US-dollar strengthened after Stanford University economist John Taylor, a candidate for Federal Reserve chairman, made a favorable impression on President Donald Trump after an hour-long interview at the White House last week, several people familiar with the matter said.

Report informs citing the Bloomberg, disclosure of the news led to a decline in the USD/EUR, the key currency pair, from 1.1820 to 1.1750. Also the dollar has risen by 0.4% against the pound sterling.

Notably, SMBC Trust bank Simon Pianfetti, senior manager of the SMBC Trust Bank in Tokyo, said: "The Taylor-Trump talks are positive for the positive dollar. According to the Taylor rules, the Fed should already, and still should raise interest rates much more, so if he served as Chairman of the Federal Reserve for the United States interest rate the impact will be hawks”.