Focus on Yellen while reflation trade hinges on CPI report

New York

WHAT'S sandwiched between Janet Yellen's congressional testimony may prove to be just as important for currency and bond markets when it comes to keeping the Trump reflation trade afloat.

Even after President Donald Trump's promise of a "phenomenal" tax plan helped send the dollar to its first weekly gain since December and triggered a resumption of risk-on sentiment, doubts remain over whether growth is strong enough for the Federal Reserve to tighten as much as forecast for this year.