US Dollar Dumps After Yellen Says Nothing New at Jackson Hole

The US dollar had been rallying ahead of Janet Yellen’s speech on financial stability at Jackson Hole, 100 pips in USDJPY and EURUSD. Her speech brought nothing new or dramatic and the dollar sold off immediately.

The US dollar had been rallying ahead of Janet Yellen’s speech on financial stability at Jackson Hole, 100 pips in USDJPY and EURUSD. Her speech brought nothing new or dramatic and the dollar sold off immediately.

Jackson Hole 1

Highlights From Janet Yellen at Jackson Hole

  • ‘Substantial progress’ has been made on twin Fed goals
  • Algorithmic traders are a larger presence in markets
  • Corporate bond market liquidity remains robust overall

Yellen Yen

Yellen Euro

Next up is Mario Draghi, will he put on his dovish wings as ecpected?

Trade Smart!

knovawave @knovawave

 

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