Forex Alert: Dollar jumps to 1-month high ahead of Yellen speech
The dollar climbed against most other currencies on Tuesday, rising to a one-month high against the euro as traders continued to digest the German election and looked ahead to a speech on monetary policy from Federal Reserve Chairwoman Janet Yellen. As many analysts have already pointed out, the German election has taken the sails out of the euro rally and today Ms. Yellen could turn that sentiment even more negative by affirming her support for further U.S. monetary tightening. Yellen is likely to maintain a hawkish tone in her remarks reaffirming the latest FOMC statement last week.
Source: Marketwatch
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