Dollar Traders Await Yellen With Best Month in Year Up for Grabs
- Greenback gains against most major counterparts in May
- GDP upgrade adds to evidence economy nears Fed’s threshold
Fed Won't Raise Rates in June, Here's Why
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Wait and see is the mantra for currency traders weighing whether to buy into the dollar’s best month in more than a year.
With the U.S. currency poised to gain more than 3 percent in May, Federal Reserve Chair Janet Yellen delivers a speech that has the potential to determine the fate of the greenback’s recent rally. A string of central bank officials have signaled their willingness to tighten policy as soon as next month, and any hint that higher interest rates may be delayed threatens to erode the dollar’s advance.