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Fed's Yellen speech: Balance sheet could shrink to normal levels by 2022
Janet Yellen, Chair of the Board of Governors of the Federal Reserve System, is responding to questions from Congress members with the key quotes, via Reuters, found below: • Balance sheet could shrink to normal levels by 2022 • Expect and hope that start of balance sheet normalization will go smoothly Key Notes: GBP/USD: around trip over London and US session, eyes back on 1.29 handle Currently, GBP/USD is trading at 1.2886, up 0.29% on the day, having posted a daily high at 1.2909 and low at 1.2812. USD/JPY retreats further after Yellen, hits fresh lows under 113.00 The yen gained momentum across the board ... (full story)