XE Market Analysis: Europe – Sep 25, 2015

The major currencies traded without clear direction in pre-European trade in Asia following a bout of dollar gains after Fed chairwoman Yellen left the possibility of a rate hike on the table. She remarked in a speech late yesterday that “most FOMC participants, including myself, currently anticipate …. an increase in the federal funds rate later this year, followed by a gradual pace of tightening thereafter,” though she took care to leave plenty of wiggle room in her message. Her comments saw EUR-USD dip by over 50 pips to the mid-1.11s, where the pair has since remained.