Dollar Bulls Despair as March Fed Hike Looks Like It's Baked In
- Ichimoku technical analysis signals potential reversal
- Greenback tumbles after Friday appearance by Chair Yellen
Yellen Says March Hike 'Likely' If Growth Continues
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Federal Reserve Chair Janet Yellen’s remarks Friday all but confirmed what traders rushed to price in last week: a rate hike mid-month is close to a lock.
The heightened confidence about March may actually spell trouble for dollar bulls in coming days -- there’s little in the way of fresh incentives to buy more of the U.S. currency right away, after it surged to an almost six-week high last week. Fed speakers are now in a blackout period until their March 14-15 meeting, and for major economic data, traders have to wait for February jobs figures to be released March 10.