Forex News Update: The dollar gained briefly on hawkish comments from Fed's Yellen who said the Fed can't just be hopeful that inflation will improve. But the USD has since begun slipping, reversing most of its earlier gains, as US stocks turn negative and pull down overall US sentiment. Recently, EUR/USD at 1.5678 from 1.5697 late Fri. USD/JPY was at 107.34 from 106.72.
San Francisco Fed's Janet Yellen taking an unusually hardline position on inflation now in her back and forth with the audience. Reuters reports her saying the Fed would make "hard choices" if needed to combat a wage spiral, adding that the lessons of the stagflation era are "very alive" for the rate-setting committee. The Fed can't just be hopeful of inflation subsiding, she says
0 comments:
Post a Comment