Richard Perry
Independent Analyst
With Janet Yellen suggesting that the Fed remains on a fairly steady path towards tightening, the US dollar has just regained the ascendency and is looking to gather momentum again today. With public holidays in many major markets yesterday (especially US, UK and Germany) traders have had some time to digest the Yellen speech and should make a decisive move today. So far this is in the direction of being dollar positive. Equity markets have been in cautious mode amidst light trading yesterday, but there is more of a mixed tone to European trading today. Traders are becoming aware that the next date for Greek repayments is fast approaching (c. €300m to the IMF on 5th June) and as things stand there is still no substantial improvement on a potential agreement between Greece and its creditors over reform proposals.
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