Last week proved to be a rather strange period in the financial markets, as everyone’s attention seemed to be focused on the speech to be delivered by Janet Yellen, Chair of the Federal Reserve (the Fed), at 10:00 on Friday morning. Most analysts agree that the Fed took advantage of the occasion to repeat its bias toward monetary tightening.
Ultimately, investors took advantage of the new information to reconsider their expectations of future rate hikes. It remains to be seen whether these developments will inject new life into the U.S. dollar over the next few weeks.
Have a good week!