I told you I would be back one last time before closing the week. Actually, Yellen closed the week with her appearance in Boston. I was just about to take off because this speech didn´t have a set time and for what I care, she could have shown up in the evening US time, which would be past midnight here in Europe, but she finally appeared. Today has been filled with comments from the BOE and the FED for that matter.
So, Yellen is still live and so far the comments are more theoretical. She doesn´t address the next rate hikes directly but there´s a dovish scent in these comments. She said that the connection between the labour market and inflation is weak and the monetary policy needs to be extra accommodative in economic recoveries.
I don´t know how these comments sound to you, but these comments for an extra accommodative policy might be signs that the interest rate hikes after the December one will be far and apart. The USD lost about a dozen pips but has recovered them already. As for us, we´re leaving the forex market for the week with a nice profit. See you gents and ladies on Sunday evening/Monday morning.
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