Currency Note US Dollar

Testimony time for the US Federal Reserve

By Ricky Bean February 10th, 2016

JOLTS job openings in the US showed a further increase, reaching its highest level for five months. As this was the only major data release stateside on Tuesday, it failed to create any strength as the markets which were largely dictated by the euro and sterling yesterday.

Today all eyes are on the start of US Federal Chair Yellen’s two-day testimony on the Monetary Policy Report. She is likely to be very careful with her words as investors will be keeping a keen eye on any comments relating to potential further interest rate rises. Any surprises could throw a curveball to US dollar strength.