Day 352: Hope in the dollar?

Profit: $1.06 Total: $1,266.20

Today was an interesting day to say the least. Pre-Yellen’s speech, the market was rather dull. Things came alive around 12:30 when Yellen gave her outlook at the  World Affairs Council of Philadelphia. Her main concerns were inflation reaching 2%, Brexit, global risk, and productivity. Despite the most recent jobs numbers coming out so low, she’s still set on gradual rate hikes as long as conditions are met. Although her demeanor showed no rush for a hike which puts June out of the table, however, July is still low but valid possibility.

I didn’t really trade much due to the quietness of pre Yellen and chaos of post Yellen. It was interesting to see the initial reaction of EUR/USD and USD/JPY as Yellen spoke. Dollar initially spiked up, then maintained a bearish movement followed by a recovery. The EUR/USD still ended the day a bit high, however, the USD/JPY was able to break new highs and is continuing as I type. Yellen wasn’t too dovish or hawkish so I guess there’s still hope in the dollar.


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