USD soars on Friday amid Fed talking

Matías Salord FXStreet

The US dollar rose sharply across the board on Friday after signals from Jackson Hole that left the door open to a September rate hike from the Federal Reserve. After days of a quiet market, volatility jumped with the statement of Janet Yellen.

Initially, the US Dollar tumbled then reversed and rose sharply in the market, ending the week among the top performers.

The greenback, tracked by the US Dollar Index, bottomed at 94.14 and then jumped above 95.00 and kept rising until it found resistance at 95.50, the highest level in almost two weeks. The rally improved significantly the short-term technical outlook. The US dollar rose as stocks in Wall Street tumbled and also amid rising bond yields.

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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