Today’s focus will be with Fed Chair Yellen’s testimony to the Senate Banking Committee in Washington. This happens every six months and is a key element of the Fed’s accountability to the US Administration. The dollar will be looking closely for further clarification of when the Fed may start tightening rates, having moved their forward guidance language from referencing “considerable period” to them being “patient”. But the Fed has struggled with such guidance and Yellen in particular, namely at one of her first press conferences back in March of last year, when she was too specific with regards to timing and markets sold off. The bottom line is that forward guidance has had its day and the Fed will be best placed to keep something back to allow markets to make their own judgement. The other factor is that most of the data has come in weaker than expected (bar labour market) in recent weeks and markets will also be looking for any changes in emphasis on this front. The dollar will be volatile and for choice, lower on the back of a lack of clarity on the timing of the first rate move. Also note that Bank of England Governor Mark Carney speaks this morning in from of Parliamentary committee. Sterling continues to perform well, the strongest performer on the majors so far this week and finds itself around the 1.5450 area at the European open. Naturally, the story is not over for Greece. The measures they have put together over the past few days will be put in front of Eurozone Finance Ministers today. Details of the reform measures are starting to filter through and seem on the vague side, so it’s appears that it is not going to be plain sailing. If there is no agreement, then we’re likely to see further wobbles in the single currency and especially in Greek bonds, because time is clearly running out. Even if accepted, this only funds Greece for the coming for months, so further negotiations are going to start once again. Further reading: EUR/USD fails to recover as Greek list examined AUD/USD: Trading the HSBC Chinese Flash Manufacturing PMI FxPro - Forex Broker FxPro - Forex Broker Forex Broker FxPro is an international Forex Broker. FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide. FxPro offers execution with no-dealing-desk intervention and maintains a client-centric business model that puts customer needs at the forefront of our operations. Our acquisition of leading spot FX aggregator, Quotix, enables us to offer access to a deep pool of liquidity, as well as top-class order-matching and some of the most competitive spreads in the market. FxPro is one of only few brokers offering Negative Balance Protection, ensuring that clients cannot lose more than their overall investment. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number: 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number: 078/07) and by the South Africa Financial Services Board (authorisation number 45052). Risk Warning: Trading CFDs involves significant risk of loss. View All Post By FxPro - Forex Broker Daily Look share Read Next EUR Looking Heavy With General Bearish Price Action – Yohay Elam 8 years Today's focus will be with Fed Chair Yellen's testimony to the Senate Banking Committee in Washington. This happens every six months and is a key element of the Fed's accountability to the US Administration. The dollar will be looking closely for further clarification of when the Fed may start tightening rates, having moved their forward guidance language from referencing "considerable period" to them being "patient". But the Fed has struggled with such guidance and Yellen in particular, namely at one of her first press conferences back in March of last year, when she was too specific with regards to timing… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.