Dovish comments from Yellen. EURUSD gains slightly 💵

After today's US inflation reading, US Treasury Secretary Janet Yellen shared some rather dovish comments with the market. The dollar is trading down today, with the USDIDX index losing 0.25% and the EURUSD gaining 0.29% although the rise is on fairly low volume, putting a question mark over sentiment on the major currency pair ahead of Powell's speech tomorrow (8:30 pm).

Yellen comments

I see no reason why inflation shouldn't come down to the Fed's target. Inflation is coming down meaningfully.
Rising real rates may impact the Fed's decision on the rate path.
There's no evidence that inflation is becoming ingrained, or that there is a wage price spiral.
The US economy on the path to a soft landing.
It is not necessary to have high unemployment to lower inflation.
Wages are rising at a healthy pace, the labor market remains strong, but it is cooling.
There's no reason to believe that the last mile will be especially difficult.
Wage increases continuing at a healthy pace.
The labor market remains strong, but is cooling.
Prices are rising at a much slower rate than before, but the level of prices, including rents, are still higher.

Source: xStation5

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