Forex Signal US Dollar moves higher ahead of Yellen speech | By FxPremiere Group Live Forex News.
Forex Signal US Dollar moves higher ahead of Yellen speech
World Forex Signal US Dollar moves higher ahead of Yellen speech after news released this week. Following the impacts of what is needed to better the economy.
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FxPremiere.com – The U.S. dollar retreated versus major currencies on on friday following investors clues amid future monetary policy ahead of a speech from Fed Reserve Chair Ms Janet Yellen.
The U.S. dollar index, which measures the greenback’s strength vs a trade-weighted basket of major currencies, dropped 0.24% to 101.98, after hitting a seven-week high of 102.29 on Thursday.
Both Yellen and Federal Reserve Vice Chairman Mr Stanley Fischer are expected to give ideas on future monetary policy.
Expectations of a March 2017 rate hike moved up high on Friday, according to fxpremiere.com’s Fed rate monitor tool system nearly 83% of FX traders expect a rate hike in March 2017, compared to just over 37% on Tuesday.
GBP/USD declined 0.13% to $1.2249, after UK services PMI for Feb 2017 was reported at 53.7, which was lower than the forecast of 54.2.
EUR/USD gained 0.50% to trade at $1.0552 while EUR/GBP rose 0.59% to 0.8615. The single currency has benefited from recent polls.
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