Yellen expected to remain optimistic – BAML

FXStreet (Barcelona) - The Research Team at BofA-Merrill Lynch, expects Yellen to be optimistic and consistent with Fed communications, which might be might USD-supportive.

Key Quotes

“Fed Chair Janet Yellen will give the Semi-Annual Monetary Policy Testimony before the Senate Banking Committee on Tuesday and before the House Financial Services Committee on Wednesday.”

“We believe Fed Chair Yellen's Semi-Annual Congressional Testimony will not be as dovish as the FOMC Minutes.”

“Instead, she will remain optimistic, consistent with recent Fed communications, which should push rates and the USD higher.”