If you wanted her to lean either way then you’ll be disappointed as she’s maintained her usual slant, modestly dovish but no movement on the scale.
The market has taken the lack of even more dovishness as a small hawkish signal, go figure.
We’re in no different a position that 15 minutes ago but it’s what the market wants to do with it that matters.
At the moment it’s deciding that they don’t need this latest Janet Yellen speech to go off on the rate rise hunt.
USD/JPY has broken through 104 but has fallen back below. Watch for a fight at this level.
EUR/USD has broken through 1.3250 to 1.3238 from 1.3265, not exactly crumbling.
Everywhere else it’s small moves and “as you were”
As far as dropping tape bombs, Bernanke or Draghi she ain’t
Going forward over the next few minutes look for signs that the market is disappointed with the comments as that will drive the dollar lower. Failing that we could be in for a relatively strong close.