EUR/USD makes fresh 2014 lows on Yellen remarks

FXStreet (Córdoba) - Even though the EUR/USD initially hesitated on which way to take, it finally turned south and printed a marginal new YTD low as Fed Chair Yellen begins her prepared remarks in Jackson Hole.

The EUR/USD rose to the 1.3285 area before turning lower, accelerating to fresh lows amid dovish comments from Yellen. She said the FOMC sees significant labor slack and that slower progress on Fed goals may delay rate increase.

Fed Chair offered no surprises and despite sounding quite dovish, the USD is rising across the board, having dragged the EUR/USD to match its last week low of 1.3237 so far.