May 30 2016

28 May 16

Rate Range Projection by Bank

Next week 109.50 –111.50
Next 3 months 108.50 - 114.00

The below is a topic from market news

Yellen says Fed rate hike likely appropriate in coming months

The Federal Reserve should raise interest rates "in the coming months" if the economy picks up as expected and jobs continue to be generated, U.S. central bank chief Janet Yellen said on Friday, bolstering the case for a rate increase in June or July.

"It's appropriate ... for the Fed to gradually and cautiously increase our overnight interest rate over time, and probably in the coming months such a move would be appropriate," Yellen said during an appearance at Harvard University.

Her comments, while balanced, suggested the powerful Fed chair is on board with several of her colleagues who in recent weeks have said the central bank is preparing to follow up on an initial policy tightening in December.

Although Yellen expressed caution about too steep a rise in U.S. rates, she sounded more confident than she has in the past that the U.S. economy has rebounded from a weak winter and that inflation would edge higher toward the Feds 2 percent target.

"The economy is continuing to improve ... growth looks to be picking up," Yellen told a group of professors and alumni at the Ivy League college in Cambridge, Massachusetts. She expects the labor market to continue to improve despite much progress because "further gains are possible," she said under an open-air tent on campus.

Prices for U.S. Treasuries fell after Yellen's remarks, while stocks rose. The U.S. dollar .DXY was trading higher against a basket of currencies.