Silver whipsawed as US Dollar firms – by fx_ross Silver XAUUSD Commodities DollarIndex
US Dollar firms on JPMorgan Chase's takeover of First Republic Bank.
It has been a particularly choppy session for the white metal as traders digested news of JPMorgan Chase's takeover of First Republic Bank, ahead of Wednesday's policy decision by the US Federal Reserve. "Our government invited us and others to step up, and we did," JPMorgan Chase CEO Jamie Dimon said in a statement. "This acquisition modestly benefits our company overall, it is accretive to shareholders, it helps further advance our wealth strategy, and it is complementary to our existing franchise."
´´We are cautiously optimistic that this resolution finally ends the banking sector turmoil that began nearly two months ago,´´ the analysts said.
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