US Treasury Sec. Nominee Yellen pressed to back strong dollar in reversing trump-era tone – Bloomberg

Early Monday morning in Asia, Bloomberg came out with the news suggesting the pressure on the incoming US Treasury Secretary Janet Yellen to a “strong dollar” policy.

The piece also highlights comments from Larry Summers, who was Treasury secretary under Bill Clinton and national economic adviser under Barack Obama. The statement suggests pushes for Yellen, “It would be unwise to appear actively devaluationist or indifferent to the dollar.”

The hopes of Yellen’s action are also backed by the previous efforts of Hank Paulson, who served as Treasury secretary under George W. Bush, the article reads.

Risks dwindle even as US policymakers strike stimulus deal…

While the news couldn’t offer immediate strength to the US dollar, the broad risk sentiment took clues from the US stimulus talks, Brexit and the new coronavirus (COVID-19) variants. That said, S&P 500 Futures drop 0.27% by press time.

Read: Breaking: McConnell says leaders have tentative accord on stimulus bill