$EURUSD: Waiting Yellen speaking....

Today the calendar is scheduled the Yellen speaking, and this event will put the dollar in the spotlight (and all related currencies). Until now, even after reading the minutes, we have two key aspects:

- The Fed does not like a dollar too strong
- Economic data releases are less strong than expected

These values are in support of maintaining the current interest rates. We argue that the Fed will keep rates low until at least September, if not until December.
In trading is difficult to have the "certainties", but what we can say is that in the medium to long term, the divergence of the central banks (FED and ECB) should maintain this dollar supported against the major currencies.
Only "contradiction" is that the expansionary monetary policy of Draghi will attract many investors and this could "restrict" the weakness of euro against dollar (medium-long term).
It will be important to monitor the CPI (inflation)!!!!

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