12 January 2022, EUR/USD
EURUSD trading plan:
The Fed chief said the central bank was determined to ensure that high inflation did not become "entrenched," and that far from diminishing job growth, a turn to higher policy interest rates and a runoff of its asset holdings was necessary to keep the current economic expansion underway. "Inflation is running very far above target. The economy no longer needs or wants the very accommodative policies we have had in place," Powell said in his testimony. Yet with the Fed's benchmark overnight interest rate near zero and nearly $9 trillion in assets on its books, "it is a long road" to anything close to restrictive policy, Powell said. In the meantime, Fed actions "should not have negative effects on the employment market," he added.
Investment idea: sell 1.1389 and take profit 1.1332.
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