More from Yellen: Zero rates mean less scope to respond to negative shock

Preparing for a downturn isn't exactly hawkish but the FOMC is giving themselves some wiggle room

Actually the BOE's gov Carney came out with similar comments suggesting that a need to raise rates if only to give some room to cut again if need be

This stance /caution is understandable but it's hardly the start of a concerted move higher

GBPUSD has been up to test the 1.5100 res I highlighted earlier only to fall back to 1.5060 as I type

EURUSD running into tech res between 1.1000-20 and posted 1.1012 before 1.0968 now

Expect more indecision and shadow boxing

Yellen still conducting Q&A