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Fed Chair Janet Yellen meets the new Congress in a long testimony. This is more important than the recent rate decision. Markets will be looking for a hint about hikes and also the level of confidence about the economy after the setback in wages. Politics are never far: implications for trade, fiscal policy, and deregulation will be in the limelight, but Yellen will probably dodge these attempts. The USD will be closely watching.

Previews for the all-important testimony: