The USD Dollar and JPY Yen moved lower today as the situation for Fed chairman Bernanke to win the vote for second term became more optimistic over the weekend. Based on some political numbers we were able to gather up, there are 95% odds Bernanke would be confirmed, up from 88% on Jan. 23. A senate vote on Bernanke’s confirmation will be held this week and Bernanke will need to 60 votes to avoid procedural hurdle.
Of course a lot can happen in a matter of a week – but we still think he will be confirmed. This just means more printing of money and a much weaker dollar
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