Analysts at Scotiabank explained that investors have their attention on Chair Yellen’s congressional testimony Wednesday.
Key Quotes:
“Markets remain reluctant to re-price very low expectations for additional Fed rate increases this year amid growth concerns and market volatility and will be looking for some guidance from the Fed chair.
Central bankers typically look through market volatility as something that has little lasting impact on growth trends.”
We still rather favour fading broader USD weakness.
(Market News Provided by FXstreet)