Janet Yellen’s Comments Supported Growth of US Dollar
The US dollar rose to the highest level in a month after Fed Chairman Janet Yellen said it would be imprudent to leave the rate on hold until inflation reaches 2%. But still, despite the expectations of central banks on interest rates, the dollar has not yet recovered from its lows.
EIA will publish oil inventory data for the last week today and is expected to report an increase of about 2.3 million barrels. Oil prices have been rising in recent weeks, as reports indicate that demand is growing at a rapid pace, and signs of a final rebalancing appear on the market.