Dollar and treasury yields rise on hawkish Yellen speech

Speaking to Congress, Yellen (pictured) said it would be "unwise" to wait too long before raising US interest rates once again, though she stressed increases would be made at a slow pace, as previously indicated. She said: "As I noted on previous occasions, waiting too long to remove accommodation would be unwise, potentially requiring the FOMC to eventually raise rates rapidly, which could risk disrupting financial markets and pushing the economy into recession." In December, when interest rates in the US went up by 0.25%, the central bank said it would raise rates again up to three ...