empty
 
 

2015.09.2403:19:33UTC+00US dollar surges ahead of Yellen speech

The US dollar advanced Thursday as investors look forward to Federal Reserve Chair Janet Yellen's speech later in the day.

Traders hope the Fed chief will shed more light on the timing of its interest rate hike. Some economists mentioned in global markets, a lack of clarity is worse than an actual increase.

The greenback finished at $1.1195 per euro, previously $1.1182. Against the Japanese yen, the currency closed at ¥120.02 from Wednesday's ¥120.28.

There is a risk-off trade “on back of weakness in stocks,” said Tsutomu Soma, Department Manager of Fixed-income Business Unit at Rakuten Securities.

Last week, investors were spooked when the US central bank held off increasing rates, citing woes about Chinese economic growth and a developing market shutdown.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback