USD lifted by Yellen, rate hike expectations

USD/JPY was bid in Asia, but mostly consolidated in tight 123.74-97 range. Fed Chair Janet Yellen’s hawkish comments from Wednesday helped lift the dollar. Yellen was upbeat about the US economy and she reinforced expectations for a rate hike this year.

EUR/JPY was heavy, down from 135.86 to 135.16 on a broadly weaker euro.

EUR/USD opened in Asia at 1.0946, pressured lower by a strong USD and lower German Bund yields. It was briefly up to 1.0963 after the news that the Greek parliament passed the some reform measures required before Greece can receive a third bailout plan worth 86 billion euros.

GBP/USD traded between 1.5609-41 as there was mainly consolidation in Asia. Wednesday’s disappointing UK employment report is still weighing on the pound.

EUR/GBP was heavy, between 0.6990-0.7008 in Asia, with the bias down.

USD/CHF remained bid in Asia, between a 0.9516-40 range, close to the Wednesday high of 0.9550. EUR/CHF was on back-foot. The Asia range was 1.0413-2.

AUD/USD opened in Asia at 0.7378, hitting lows of 0.7354 and highs of 0.7390.

NZD/USD fell to a fresh post-July ‘09 low, to 0.6496 towards the end of Asian trading. Soft New Zealand CPI data also acted as a catalyst to push the kiwi lower.

The post USD lifted by Yellen, rate hike expectations appeared first on Forex Circles.

Source:: USD lifted by Yellen, rate hike expectations

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