With the lack of economic releases yesterday it is unsurprising that trading on financial markets was mostly subdued. Sterling did however continue its mild recovery against the dollar in the run up to Yellen’s speech on Friday as it momentarily breached the $1.32 level. The brief recovery of the dollar against the euro following on from hawkish Fed comments on Sunday was short lived as EUR/USD recovered back up to the $1.13-1.1350 range and USD/JPY down near 100. With markets preparing for Yellen’s speech in Wyoming on Friday it is likely we could see another day of narrow range bound traRead the full report
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