Yellen's testimony next week shouldn't cause a stir - TD Securities

FXStreet (Łódź) - The TD Securities FX Research Team suggest that during her testimony before the Senate Committee on Tuesday Fed head Janet Yellen shouldn't deviate in any meaningful way from her stance presented at the June press conference.

Key quotes

"Investors will be looking for any indication of whether the strong June's payrolls report has altered the FOMC's predisposition towards the timing of liftoff."

"We doubt that Mrs. Yellen will deviate in any meaningful way from her remarks during the June press conference."

"Therefore, her appearance before Congress should not add further downside pressure on UST yields and prove relatively neutral for the USD."