Yellen helps EUR/USD below 1.36 - UBS

By FXstreet.com | July 16, 2014 AAA

FXStreet (Córdoba) - The UBS analyst team noted that Yellen's testimony confirms a positive perspective for the USD and thus a negative path for the EUR/USD.



Key Quotes



“Janet Yellen's testimony at the Congress led to a sharp intraday drop of EUR/USD, well below 1.36”.



“Her promise that rate hikes could come earlier than currently forecasted if labor market improves quicker than expected excited markets on Tuesday”.



“We are not sure that this is the final breakthrough, but at least it shows that the Fed and the market are thinking in the same direction as we do, i.e. a strengthening of the greenback”.



comments powered by Disqus
Related Forex Analysis
  1. Weekly Trading Forecast: FX Traders Prepare for Heavy Volatility on FOMC, GDP and ...
    Forex News

    Weekly Trading Forecast: FX Traders Prepare for Heavy Volatility on FOMC, GDP and ...

  2. Trading Video: EURUSD Traders Buckle Up for FOMC, ECB Stress Tests, Risk Trends
    Forex News

    Trading Video: EURUSD Traders Buckle Up for FOMC, ECB Stress Tests, Risk Trends

  3. US Session recap: USD consolidation ahead of FOMC
    Forex News

    US Session recap: USD consolidation ahead of FOMC

  4. A market in a technical snap-shot - RBS
    Forex News

    A market in a technical snap-shot - RBS

  5. EZ gave mixed data at key timings - BBH
    Forex News

    EZ gave mixed data at key timings - BBH

Trading Center