What is it? Fed Chair Yellen is due to testify on the Semiannual Monetary Policy Report before the House Financial Services Committee, in Washington DC.
As head of the central bank, which controls short term interest rates, he has more influence over the nation's currency value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy.
When? February 25th at 10:00am Eastern Time.
Trading Tip: If the announcement will hint towards higher interest rates, you can expect the USD to rise.
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