Yellen is not talking about the economy and the dollar plummets

Janet Yellen, the Federal Reserve chairman gave his speech in Jackson Hole. He made No reference to possible measures of monetary policy, nor to a general guideline. He spoke mainly about the financial crisis and the changes in the system since then. He said that any regulatory adjustment should be modest.

From the point of view of market analysts, the speech was “boring” when referring only to regulatory matters and historical.

Despite not making direct references to monetary policy, the dollar plummeted in the market after knowing the content of the speech. The non-mention of the recent economic data, nor the situation in general, seems to have been enough for a massive sale of dollars.

Now the focus moves to the second half of the american session when from Jackson Hole talk to the president of the European Central Bank, Mario Draghi.

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