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US dollar higher ahead of Yellen. EUR/USD falls to weekly low

Dollar strengthens across the board

A solid bid continues to slowly boost the US dollar.

EUR/USD broke 1.1150 then touched a weekly low of 1.1126 (breaking Tuesday's low by a pip). Yellen speaks later but continued talk of European demand for dollars ahead of the weekend is doing the rounds.

USD/JPY dipped to 109.45 after the miss on Q1 GDP but it has turned around and is trading at 109.90. The Asia-pacific high was 110.00.

The worry is that Yellen will offer a hawkish hint in her appearance today at Harvard. The market is still net short of US dollars and is squaring up ahead of it her talk and ahead of the long weekend.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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