U.S. Dollar Spikes On Hawkish Tone From Fed Chair Powell

Thirty year mortgage rates are around five percent. Yields as high as this will force some home buyers out of the market, says Larry Shover, Chief Investment Officer, D. Alexander Capital. The Japanese Yen is down another two percent in the last five days and down against the U.S. dollar, explains Larry. He is watching the Australian dollar and the Canadian dollar saying they are relatively attractive currencies. He discusses the Philadelphia Fed numbers released this morning, with increases in both employment and prices paid.