Fed's Powell sees 50/50 chance of Sept rate hike
A core member of the FOMC delivered some hawkish comments. Markets have been moving away from a September rate hike since the FOMC decision but Powell said there's still a good chance of a hike and added that he envisions a second hike in December.
The US dollar rallied 20-40 pips on his comments.
EUR/USD has fallen to 1.1165 from 1.1200 prior to the comments. USD/JPY is up to 124.08 from 123.80. Cable is down to 1.5738 from 1.5775.
The dollar has been under pressure for the past month but the likelihood of a deal in Greece has led to a round of 'selling the fact'. It's a tough market at the moment.
The euro has some support at 1.1151.
