Yellen Comments:

-High degree of accommodation remains warranted

-Labor market conditions are far from satisfactory

-Inflation persisting below 2% ‘could pose risks’

-Forecasts faster growth this year than in 2013

-Housing market data is disappointing

-Flattening out in housing data may pose risk

-Reasons for first quarter slowdown may be transitory

-Low rates may prompt investors to reach for yield

-Equities, broad types of assets priced within norm

-Leverage ‘subdued’ within financial sector

Q&A commentary and analysis to follow…

April 7, 2014 USDJPY (5-Minute Chart)

Fed's Yellen Comments Send USDJPY Lower, Markets Await Q&A

Source: FXCM Marketscope

Gregory Marks, DailyFX Research Team

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