Forex news for US trading on March 29, 2016:
Markets:
– Gold up $19 to $1241
– WTI crude down 84-cents to $38.55
– S&P 500 up 18 points to 2055
– US 10-year yields down 8.6 bps to 1.80%
The market heard from some hawkish regional Fed Presidents in the past two weeks and thought Yellen might change her tune. Instead, she stuck to her dovish FOMC style and the market was caught off-guard and forced to sell US dollars.
