Dollar and treasury yields rise on hawkish Yellen speech

Does not want to 'wait to long' on rates

Federal Reserve chair Janet Yellen gave a boost to the dollar and sent treasury yields higher as she signalled a rate hike in March could be more likely than investors were expecting.

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." Fed mulls faster rate hiking path on Trump's fiscal stimulus plans In December, when interest rates in the US went up b...