US dollar edges higher on Yellen's comments:
The US dollar barely moved as the text of Yellen's speech was released. That could change in her Q&A or as the speech is analysed but I haven't seen anything in the headlines that argues for a trade, especially with Greece and China dominating the conversation.
USD/JPY has ticked to a marginal session high at 122.86 but it has been relentlessly bid for the entire session.
One market to move is gold as it slumped to $1159 from $1165. That's a sign that battered gold bulls were looking for a dovish lifeline from the Chair.
The Fed Funds December contract moved down to 99.705 from 99.720, indicating a roughly 6% higher chance of a rate hike before year end.
The WSJ has 5 key quotes from her speech. but there is little to chew on.
Here are highlights of Yellen's speech.
