Yellen sent the Dollar soaring after reaffirming her aggressive rate hike plans stating "It would be unwise to wait too long to raise rates" - in light of increasing U.S inflation and good economic data. However, the U.S currency gave up much of these gains on Feb 16th due to political uncertainty surrounding Trump and his much-awaited tax plans.
In the U.K, retail sales begin to fall as higher prices seem to take their toll on consumer spending power, according to data from the Office for National Statistics. This may be the beginning of the much-anticipated Brexit inflation, or it could be more unnecessary panic. A dip in retail sales after the Christmas season of December may not be cause for alarm. But the coverage of such data may turn it into a self-fulfilling prophecy. In Greece, EU officials push for a swift resolution to prevent more uncertainty from pressuring the economic union.
Precious metals remain relatively healthy and look to have a bright future in light of the economic uncertainty around the globe. Gold prices sit around $1,237.20 per ounce. Silver trades for around $18.00 and platinum is $1,005.00.
