Yellen could not rescue it – FXStreet

By FXStreet Valeria Bednarik, chief analyst at FXStreet explained that the American dollar found some support from FED’s Yellen this Wednesday, although her comments were not enough to send it into the green, except against the EUR.

Key Quotes:

“In her first day of testimony before the Congress, the US Central Bank’s head said that “financial conditions in the United States have recently become less supportive of growth,” but she also reiterated that they are ready for further tightening, should economic conditions allow.

Despite the less dovish-than-expected stance, the greenback fell during the American afternoon, while stocks trimmed some of their early gains, and oil prices continued declining. Markets however, continue trading on a doom mode over what the future to worldwide economies, and seems that the so long awaited testimony won’t be able to affect the ongoing dollar’s weakness.”
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Source:: FX Street