Yellen May Just Have Pushed the Dollar Into a Bull Market vs. the Euro
NEW YORK (TheStreet) -- It seems as if the market is turning to favor the U.S. dollar. The market for euros in terms of dollars has fallen below $1.3600, and Thursday euros have been trading as low as $1.3438. There is even some chatter around the market that this rate may fall as low as $1.3200 by the end of this year.
This is a different market feeling today than two weeks ago, when the U.S. dollar was not so strong against the euro. The difference seems to be the recent testimony before Congress of Federal Reserve Chair Janet Yellen.
The key statement made by Yellen: interest rates may rise sooner than expected.
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