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