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USD: Economic confidence and Fed push dollar higher

By Ricky Bean July 13th, 2017

The US dollar weakened yesterday pushing back towards the key psychological level of 1.30. Federal Reserve Chair Janet Yellen’s remarks to Congress didn’t boost confidence in the US dollar as she didn’t deviate from previous pronouncements and the market placed greater credence on Tuesdays comments from Federal Reserve Governor Brainard who raised concerns about the lack of inflation.

Against the euro the dollar made small gains.

Today PMI and unemployment claims data will be released and Yellen will speak again.