30 Mar 2016
The key event so far this week was Yellen - UOB
Analysts at UOB reminded that, as the key event so far this week, the U.S dollar was sharply lower against all G10 peers after Yellen’s speech, wiping out in a single session almost all of the dollar index’s gains in the past week.
Key Quotes:
"NZD was top gainer, added 1.9% to 0.6850 from 0.6723, a two-week closing high. Similarly, AUD also tracked equities gains to finish 1% better at 0.7627. GBP was also higher by 0.9% to 1.4384, briefly above key 1.44 level intraday. EUR rose to 1.1291 from 1.1196. USD/JPY finished 0.7% lower to 112.70, weighed by sharp declines in U.S Treasury yields.
Indeed, during her speech, Yellen highlighted that “it is appropriate for US central bankers to proceed cautiously in raising interest rates because the global economy presents heightened risks”.
Key Quotes:
"NZD was top gainer, added 1.9% to 0.6850 from 0.6723, a two-week closing high. Similarly, AUD also tracked equities gains to finish 1% better at 0.7627. GBP was also higher by 0.9% to 1.4384, briefly above key 1.44 level intraday. EUR rose to 1.1291 from 1.1196. USD/JPY finished 0.7% lower to 112.70, weighed by sharp declines in U.S Treasury yields.
Indeed, during her speech, Yellen highlighted that “it is appropriate for US central bankers to proceed cautiously in raising interest rates because the global economy presents heightened risks”.