Powell takes the heat out of the dollar as stocks advance- USD/JPY falls towards 157

The US Fed chairman is now delivering his press conference and during that time he has given the impression that he is a dove and that has not been lost on the markets. To be honest he has said little new, but at the same time he has given the stock markets little reason to panic. So, the Dow Jones, whilst delivering some rapid swings, has now advanced to session highs above 38,250 and that has dragged the S+P and Nasdaq 100 higher with it. The dollar has reacted negatively to all this and the EUR/USD is now extending a move to above 1.07 and towards 1.0725, as the USD/JPY falls closer to the 157 handle. It is just now trading at 157.15