Currency Note US Dollar

Testimony continues in the US

By Ricky Bean February 11th, 2016

There was quite a sell-off for the US dollar leading up to the start of US Federal Chair Yellen’s two-day testimony, with the expectation that there would be some negative views regarding possible interest rate rises this year. However, we saw positive US dollar sentiment later in the day, which created some strength for the US dollar against its peers.

We can expect some more movement today, with the second and last day of the Federal Reserve Chair Yellen’s semi-annual testimony to Congress concluding, as well as the weekly labour data. The latter is expected to be positive for the US economy, but any surprises could cause the US dollar weakness.