Asian Session – Yellen limits dollar upside; aussie gains on Chinese PMI
Posted on February 25, 2015 at 8:16 am GMTThe testimony by Federal Reserve Chair Janet Yellen was the main news item for foreign exchange markets, as it put a lid on the dollar rally by bringing down Treasury bond yields. The Fed Chair indicated that there was no pre-set schedule for interest rate increases and that for the Fed to start increasing rates, it needed to be convinced that inflation was going to head towards its 2% target. In December US inflation was at 0.8%, although lower fuel [..]