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Fed's Yellen to speak: stocks up, dollar sluggish

Reuters  |  LONDON 

By Vikram SubhedarLONDON (Reuters) - The dollar was stuck near its lowest level in more than a year against the euro on Wednesday while stocks edged higher in light trading ahead of Janet Yellen's testimony to Congress.While the Federal Reserve chair is expected to say that the Fed still intends to steadily raise rates, any signals on how the bank is viewing a retreat in inflation and muted wage growth will be closely watched.Comments overnight from two of her colleagues calling for caution on further interest rate rises have pushed back the probability of a hike again before the end of the ...

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First Published: Wed, July 12 2017. 16:21 IST
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