US Dollar Plunged as Yellen Cautioned over Rate Hike

Fed chair Janet Yellen's comments that cautious should be taken in consideration of further rate hike pressured US dollar and yields, but lifted equities. Crude oil prices managed to climb higher earlier in the day but then reversed as oil inventory showed another week of increase. The front-month WTI contract dropped -2.82% while the Brent contract was down -2.81%.

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US Dollar Plunged as Yellen Cautioned over Rate Hike