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Dollar hammered after soft Yellen comments

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 30, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    On Tuesday, USD trading initially showed no clear trend as investors awaited a speech of Fed chairwoman Yellen. Contrary to other Fed speakers of late, Yellen kept a dovish tone. She said that it is appropriate to proceed cautiously on raising interest rates. Uncertainty on the global economy, on the US inflation outlook and the risk of a strong dollar all contribute to this assessment. US yields and the dollar declined. EUR/USD gained about one big figure and closed the session at 1.1291.

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