Yellen to US bankers: More mergers may be necessary

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.

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.