Yellen does not stop EUR/USD – reaches new highs

Janet Yellen speaks in London. It is her first public appearance since the hawkish hike two weeks ago. Given falling inflation and mixed messages from Fed officials, some were asking: will the Fed really raise rates again?

This is not a prepared speech but rather a conversation. She is speaking on a wide variety of topics: models, banking, etc. There is no direct mention of inflation or the next rate hike at the time of writing.

Nevertheless, EUR/USD continues higher, reaching a new high of 1.1337. From here, the pair is not really going anywhere, just staying around the highs.

Markets have been on the move already earlier.

• USD/JPY advanced despite mixed messages from other Fed officials. The high of the day was 112.45.
• EUR/UDS rose to the highest levels since September last year on some taper talk from Draghi. It made a break above 1.13, reaching a high of 1.1334.
• GBP/UDS was somewhat higher at 1.2780.
• USD/CAD was down to just under 1.32 as oil prices rose.
• AUD/USD was around 0.7580.

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Janet Yellen speaks in London. It is her first public appearance since the hawkish hike two weeks ago. Given falling inflation and mixed messages from Fed officials, some were asking: will the Fed really raise rates again? This is not a prepared speech but rather a conversation. She is speaking on a wide variety of topics: models, banking, etc. There is no direct mention of inflation or the next rate hike at the time of writing. Nevertheless, EUR/USD continues higher, reaching a new high of 1.1337. From here, the pair is not really going anywhere, just staying around the highs.…