Dovish Yellen to drive the Aussie dollar

The currency headache for policymakers will continue to pound until Janet Yellen's expected appointment in January. Even then her support for easy monetary policy may not improve things for the Aussie.

Once again it looks like the Aussie dollar will be at the mercy of the US Federal Reserve, the most influential central bank as it continues to wield the power over the currency market.

Janet Yellen’s nomination to be the next chair of the Fed was celebrated by markets on the expectation she will offer continuity – embracing the ultra-easy monetary policy undertaken by current chairman Ben Bernanke.

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