The US dollar gained significantly in recent minutes after Mester’s comments. President and CEO of the Fed of Cleveland says that her view regarding inflation had changed - she now believes that elevated prices will last longer. Mester adds that her priority is to cut down on asset purchases as on the macro side, the Fed has met the parameters for tapering. That is a clear hawkish tone from the Fed member who was earlier seen as a dove. As a result, the USD gained across the board.
EURUSD, M5 interval. Source: xStation5
