Janet Yellen is appearing before a Congressional committee on Tuesday 19 January 2021:
ANZ comments on what to listen out for:
- Yellen is reportedly expected to assert that the U.S. is not seeking a weaker dollar
- this is not the same as the strong-dollar policy of previous administrations
- "A commitment to market-determined exchange rates implies that the new administration will be comfortable with further dollar weakness, especially given the widening twin deficits in the U.S."
- "We may see some pullback in short-dollar positions from time to time, but I expect overall positioning to remain bearish towards the dollar for some time"
Yellen with ... I forget ...
