US Treasury Sec. Yellen: US policy, risk aversion are factors favoring dollar strength
|When asked about the dollar strength, US Treasury Secretary Janet Yellen said that they were committed to market-determined exchange rates, as reported by Reuters. "Tighter US monetary policy and risk aversion are factors favoring the dollar strength," Yellen added.
Additional takeaways
"Russian central bank assets are substantial, US and others have blocked about $300 billion."
"It would not be legal now in the US for the government to seize those assets."
"There really are a number of issues, conversations are just starting on reconstruction financing."
"Inflation is a concern in the US and many other parts of the world."
"We understood that we could not shield ourselves entirely from the economic consequences of Russian sanctions."
"EU timeline for ending Russian oil imports gives ample time to ensure it is done in an orderly way."
"Shutting off oil and gas revenues for Russia, we would like to do what we could to diminish those."
Market reaction
The US Dollar Index showed no immediate reaction to these comments and was last seen rising 0.23% on a daily basis at 103.53.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.