EUR/USD awaits Yellen – FXStreet

By FXStreet Valeria Bednarik, chief analyst at FXStreet explained that the EUR/USD pair closed the day slightly lower, but not far from the 1.1360/70 comfort zone, in where the pair has been stuck ever since the week started.

Still, the common currency extended its rally up to 1.1453 against the greenback during the European morning, as dovish FOMC Minutes kept the American currency under pressure.

The minutes of the ECB’s March meeting showed that the governing council is committed to keep rates down at least until 2018, and while it’s not willing to cut them further, will do if necessary.

In the US, the release of weekly unemployment claims had no effect on the markets, despite initial claims declined by 9,000 to a seasonally adjusted 267,000 for the week ended April 1st, below market’s expectations. FED’s Yellen is due to participate in a panel discussion at the International House, in New York early Asia, although is unlikely she will offer something to work with.
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Source:: FX Street