"The events of the crisis demanded action, needed reforms were implemented, and these reforms have made the system safer", Yellen said.
"The Dow Jones, S&P 500 and NASDAQ 100 have all opened higher today as investors are buying equities on the back of comments from Gary Cohn, Trump's chief economic advisor, that the USA president will launch plans to bring in tax reforms next week", said Madden.
Although some tweaking of new rules may be necessary, "any adjustments to the regulatory framework should be modest", she said.
For want of answers from Ms Yellen on the direction of monetary policy, investors sent the United States dollar tumbling, leaving it down 0.8 per cent against a basket of currencies shortly after 2000 GMT. The Commerce Department's report for July signaled a mixed message for the start of the third quarter. However, orders for transportation equipment plunged 19%, weighing on the overall orders for durable goods.
As things stand, some may argue that the Eurozone economy is now looking in far better shape than that of the U.S, with geo-political risk having subsided in the Eurozone, whilst it seems to be an ever-increasing issue faced by the Dollar.
Silver rose 0.9 percent to $17.07 an ounce, while platinum was down 0.6 percent at $972.99 an ounce.
TICAD : Le grand "Flop" du plan mozambiquo-polisarien
Du côté du Japon, le ministre des Affaires étrangères, Kono Taro, a exprimé ses "vifs regrets" auprès de son homologue marocain en marge de la réunion ministérielle.
Exporters attracted buyers, as the dollar was steady at 109.540 yen after gaining 0.5 percent overnight. The euro was at $1.1792-1794, up from $1.1780-1784, and at ¥128.85-86, down from ¥128.91-92.
With the decrease on the day, the ten-year yield more than offset the 2.3 basis point increase seen on Thursday, hitting its lowest closing level in two months. The pan-regional FTSEurofirst 300 index .FTEU3 slid 0.14 percent as Dutch supermarket operator Ahold AD.AS fell 6.1 percent after Amazon AMZN.O said it will cut prices when its acquisition of Whole Foods Market WFM.O is completed on Monday. The expected score was 115.5.
Against the euro, the pound was fairly flat at 1.0838 and attention will now turn to ECB President Mario Draghi who is due to speak at 1800 BST. The greenback is poised to challenge support around the 1.31 mark. "This makes us positive on a select number of local currency (sovereign) markets", Robeco's Meijers said.
In cryptocurrencies, bitcoin rose to a high of $4,246.4 on the Bitfinex exchange.
Core inflation, which excludes food prices, advanced an annual 0.5% - again unchanged and matching forecasts. The U.S. dollar fell to 0.9574 Swiss franc from 0.9645 Swiss franc, and it edged down to 1.2482 Canadian dollars from 1.2525 Canadian dollars.
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