US Dollar Index traded on a flat note yesterday as markets discounted the Yellen speech which gave no clear indication with respect to rate hike timings. She said that there was “no fixed timetable for removing” the accommodative stance of monetary policy.
At the same time, she made clear about not wanting to keep interest rates at the same levels for long. Continued job gains will prompt the Americans to spend thereby pushing up the inflation rate. She ended the speech by saying that the future course of rate hikes will be data dependent. US Dollar made an intraday high of 95. 66 and closed at 95.3 4 levels on Wednesday.
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