Gold hit a three-month high and global shares edged higher on Tuesday as investors bet that the new head of the U.S. Federal Reserve would navigate through her first testimony to Congress without rocking the markets boat. Fed Chair Janet Yellen is likely to face questions on the state of the labour market and the future pace of tapering when she appears before the House Financial Services Committee on Tuesday. Dealers said the latest betting was that while the tone was likely to be upbeat on the economy, Yellen would emphasise that interest rates were set to remain near zero for some time. "The Fed will want to hold the market's hand as much as possible over this period so they will be extremely keen to try and comfort the market in any way they can," said Stewart Richardson, partner at macro hedge fund RMG Wealth Management.
via Business News - Yahoo Finance http://ift.tt/1h7lIgX
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