Currency Analyst since 2010

USD: Janet Yellen’s press conference

Highlights of Yellen's comments:

  • US economy is making a progress expanding at moderate pace.
  • Labor market has yet to fully recover (significant underutilization of labor resources).
  • Expects to end QE at next meeting.
  • Pace of monetary tightening to depend on economy. Fed has flexibility to move faster if economy warrants.
  • FOMC will continue to have a target range for Fed funds rate rather than a single point.

The market has picked the hawkish comments and USD is widely strengthening. 

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