Yellen:
- inflation may have peaked
- US economy is being very resilient in the face of a set of shocks
- Will have to put up with high inflation for a while longer
- Knows Federal Reserve will look carefully at the data in responding to inflation
- there is a possibility that imposing import bans on Russian energy could drive price is higher throughout global economy
Lagarde:
- APP likely to end in early Q3 (that is different than what she said last week after the ECB rate decision – said the APP was likely to and in the 3Q but could be near the beginning or end)
- There is strong chance rates will be raised this year
- Not seeing stagflation
The EURUSD traded to a low of 1.07697. It currently trades at 1.0779. The low price for the week reached 1.07604. The low price from last week reach 1.07568.
This article was originally published by Forexlive.com. Read the original article here.