Forex Blog: Currency Trading News & Analysis.

March 18th 2005

Most Influential People in FX

A recent survey attempts to identify the most important people in foreign exchange markets. Topping the list, unsurprisingly, is Alan Greenspan, chairman of the US Federal Reserve. The USD is the world’s reserve currency, and Greenspan largely determines US interest rates. However, Greenspan will be stepping down in less than one year, and Ben Bernanke is rumored to be his replacement. He is an advocate of ‘neutral’ interest rates, and increased monetary transparency.

Jean-Claude Trichet, president of the European Central Bank, is probably the most influential foreigner. Although his past has been characterized by scandal, Trichet has earned the respect of most of the EU for his leadership during the transition to one universal European currency. Trichet is known for predicating monetary policy decisions on inflation expectations, rather than on economic growth. Accordingly, most economists agree that EU rates will continue to climb. Herve Gaymard, French minister of finance, has also achieved notoriety for his loud criticism of the weak dollar. He is encouraging Asian and European Central Banks to intervene and stem the dollar’s decline.

Gordon Brown, chancellor of the UK exchequer, is probably as important more popular than Tony Blair, and a fiscal conservatist. He has managed to contain government spending, and prevented tax rates from increasing. Finally, Alan Bollard, governor of the reserve bank of New Zealand, has also achieved prominence, as New Zealand’s interest rates are the highest in the developed world. As New Zealand’s economy continues to grow, so may its interest rates.

View the Complete List: 20 Most Influential People in FX

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Posted by Adam Kritzer | in Major Currencies, Politics & Policy | No Comments »

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