The Dollar followed Friday’s trading day and continued higher throughout yesterday’ session. Even though during the start of the session, the Greenback presented minor weakness, Bernanke’s mixed speech helped to drive the Dollar to higher ground.
In a speech before the Economic Club of Washington D.C, Fed chairman Ben Bernanke hinted that interest rates should stay at low levels for an extended period of time. The Fed Chairman commented on the recent recovery, mentioning that that even though the U.S economy is slowly bouncing back, it still has various obstacles to overcome, ones which could weigh on the current recovery, causing slow economic growth. In addition, Bernanke touched on the financial situation, stating that their remains credit problems under the surface.
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