The dollar steadied against the euro and yen on Wednesday as it awaited fresh cues from a U.S. Congressional appearance by Federal Reserve Chair Janet Yellen later in the session.
Yellen provided dollar bulls with food for thought Friday by saying she expected a rate hike at some point this year, and investors will have a chance to hear her latest thinking at the semi-annual testimony.
The euro, which has lost 1.5 percent this week, was little changed at $1.1001. As the deal between Athens and its creditors consigned the Greek debt saga to the back burner, focus has shifted back onto differentials between U.S. yields and those in Europe and Japan.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015