USD : Fed Chair Yellen Speaks 1:15pm (ET GMT-5:00)

From the FXWW Chatroom: US – No doubt the highlight of the day will be the Janet Yellen speech at 18.15 just as the markets see an early close ahead of the Memorial Day holiday on Monday. Yellen will answer questions from Gregory Mankiw on her groundbreaking achievements and be presented with the Radcliffe medal. Jeffrey Gundlach said he expects a dovish speech from Federal Reserve Chair Janet Yellen Friday.

The chief executive of DoubleLine Capital LP in Los Angeles said the Fed will refrain from raising interest rates in June unless traders in the futures market assign odds of at least 50 percent to the move. Futures contracts currently show a 28 percent probability. Personally am thinking we will be disappointed with the content of the speech and roll on the 17.30 6th June speech by Yellen to World Affairs Council of Philadelphia as a better opportunity to discuss future Fed policy.

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