Forexlive: The second person of the Fed speaks more than “dive”, the dollar is under pressure again

There was only a brief respite in the market yesterday before comments from Fed Vice Chairman Brainard helped to re-orient the market in favour of risk trades.

As last week’s sell-off continued, the dollar fell to a new low after the CPI announcement. The euro rose to its highest level in more than four months against the dollar. The dollar’s recent sell-off still has room to expand, and that remains the case for the new week.