Equities and Dollar down heading into Yellen’s speech

US Federal Reserve Governor Janet L. Yellen is scheduled to speak at University of Massachusetts Amherst over Inflation Dynamics and Monetary policy at 21:00 GMT or 17:00 ET.

While her views are unlikely to change much since it has been just about a week from last monetary policy conference, all market participants will be closely watching for further clues.

Though topic of discussion is more generic, she surely will draw attention to current domestic scenario. Her talk over inflation dynamics will also clear up her view over inflation trajectory in greater details. It will also provide light, how hawkish the FED can be in monetary policy stance in an environment of low inflation.

Dollar has taken heavy hit today, heading into Janet Yellen's speech, along with equities.

Euro and Yen are the best performing majors today, both up more than 0.5% so far.

Equities have taken very heavy hit.

German DAX is down close to -2%, FTSE100 is down more than -1.1%, European blue chip index, EuroStxx50 is down -1.9%, S&P500 is down -1.2%.