Yellen speech and positive data boosted the US Dollar

ImageYellen speech and positive data boosted the US Dollar

Oct 17 2014

On today meeting, the Federal Reserve chair woman Janet Yellen has expressed her great concerns over widening economic and income inequality in U.S. She also indicated that inequality in housing wealth provoked inequality in education.

However in her speech she did not focus too much on the Fed monetary policy. In deed, the central bank had cut the quantitative easing program to $15 billion a month.
And economists are expecting the Fed will end the program by the next FOMC meeting on Oct. 28-29.

Furthermore, today the market has witnessed the release of positive data from the US economy, as the Michigan Consumer sentiment rebounded to the highest level in more than 7 years.

Consequently the greenback edged higher against the Euro and the other major currencies, while the Gold extended losses on strong U.S dollar.

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