Forexlive Americas FX news wrap: US dollar soars on Fed rate rise fears

Forex news for US trading on August 26, 2016
The forex market waited for the headlines from the Yellen speech all week. When they hit the newswires at 10:00 AM ET/1400 GMT, the initial move was a spike higher in the dollar. Then on inspection (and perhaps as a result some technical levels holding), the dollar reversed.  Yes, the Fed Chair said the case for interest rate increases had strengthened but it was also accompanied with the the disclaimers – i.e., Fed depends on data, not on a preset course, range of possible rate hikes paths is wide and shocks could change the path.  Was it the same ole Yellen hemming and hawing.