What does the cryptic crossword clue "A swell leader of panache in the American press (7)" mean?

This cryptic clue uses wordplay to arrive at the answer. Visit the page for progressive hints — definition, wordplay type, and a full step-by-step explanation.

A swell leader of panache in the American press (7)

Guardian Cryptic #22751 | 10 Across | 2003-02-11

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