EUR/USD is leaping to resistance at 1.1250 as Janet Yellen’s speech is released. She talks about caution when raising the rates. Given risks to the outlook, the Fed should proceed “cautiously” with rate hikes. The inflation outlook has become more uncertain according to the Fed Chair. EUR/USD is extending its gains and similar moves are seen across the board. This is a “sell the rumor, sell the fact even more” reaction. Yellen also talks about the Fed having considerable scope for more stimulus. Are negative rates still on the table in the US? And while she does warn about the global economy and is cautious also on oil prices, at least for now, the impact of the global turmoil will likely be low., thanks to the Fed’s low rates. Currency reactions EUR/USD jumps from around 1.12 to a high of 1.1262 after hesitating around 1.1250. GBP/USD challenges resistance at 1.4365. The next line is 1.4440. USD/JPY is hardly holding onto 113. USD/CAD loses the battle with support at 1.3170 and is already battling the round level of 1.31. This comes despite lower oil prices. AUD/USD has recaptured the lost level of 0.76. NZD/USD made the break above the 0.6820 level. Janet Yellen speaks in New York about monetary policy. She has a chance to clarify the stance of the Federal Reserve: extremely dovish as in the FOMC statement and her accompanying press conference or more upbeat as we’ve recently heard from her colleagues. The latest Fed official to speak up was John Williams with whom she worked in the San Francisco Fed. He talked about two rate hikes in 2016. Bullard, which is a known hawk and other members, even mentioned April not only as a live meeting but also as a real chance to act. Howeve, markets are certainly skeptical about this. Here is how the initial rise looks on the EUR/USD chart. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next GBP/USD: Bottomed With Oil; Where To Target? – Nordea Yohay Elam 7 years EUR/USD is leaping to resistance at 1.1250 as Janet Yellen's speech is released. She talks about caution when raising the rates. Given risks to the outlook, the Fed should proceed "cautiously" with rate hikes. The inflation outlook has become more uncertain according to the Fed Chair. EUR/USD is extending its gains and similar moves are seen across the board. This is a "sell the rumor, sell the fact even more" reaction. Yellen also talks about the Fed having considerable scope for more stimulus. Are negative rates still on the table in the US? And while she does warn about the… 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.