Dollar Drives Higher On Yellen Comments

Morning Report: 07.00 London

• This morning, the US dollar continues to dominate after comments from Fed chair Yellen that interest rates could rise sooner rather than later.

• The dollar pairs moved in line with this development, with the USD/CAD rallying sharply after the BOC dropped rates to 0.5%.

• The euro is on the back foot after the Greek deal scraped through last night.

• The NZD/USD continues to sink, primarily on the back of the US dollar move.

• The S&P 500 continues to rally as the immediate crisis in Europe abates.

                                                             
Coming up today:

• Coming up today we have the ECB bid rate with press conference following at 13.30. Europgroup meetings run throughout the day.

• US unemployment claims follow at 13.30, with Philly Fed Manufacturing at 15.00.

• Janet Yellen also speaks at 15.00.
                           
Trade Idea:

The NZD/USD continues to slip, with the bear trend accelerating today.

                                  
             
There’s further downside to come and a good way to play this is a LOWER trade predicting that the NZD/USD will close below 0.6450 in 14 days time for a potential return of 146%.

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