Credit Agricole ahead of Yellen
Looking ahead it will depend on to drive sentiment further. However, even if she decides in favour of a more hawkish rhetoric it must still be noted that any tightening of monetary policy will depend on incoming data and will be gradual in nature. As long as improving US growth prospects compensate for higher rates overall sentiment does not need to weaken sustainably. Last but not least it must be noted that it is no certainty that Yellen will make any strong remarks with respect to monetary policy prospects.
