The dollar is extending its gains against its major competitors on Thursday, adding to the strength of the previous trading day. Yesterday’s gains were fueled by comments made by Federal Reserve Chairman Ben Bernanke, as he testified before Congress. Bernanke was vague about the time line for scaling back the Fed’s $85 billion a month
The dollar is currently rebounding from recent weakness against its major competitors on Wednesday, following comments made by Federal Reserve Chairman Ben Bernanke before the House Financial Services Committee. Bernanke stated that the U.S. economic recovery has continued at a moderate pace but the jobs situation remains “far from satisfactory.” “With unemployment still high and
The dollar is weakening against both the Euro and the Japanese Yen on Tuesday, but is nearly unchanged against the pound sterling. The U.S. currency is losing ground despite the stronger than expected homebuilder confidence reported today. Consumer prices in the U.S. rose by a little more than expected in the month of June, according
The dollar is rebounding slightly from the sharp drop it suffered against all of its major competitors late Wednesday. The sharp decline in the U.S. currency was triggered by comments made by Federal Reserve Chairman Ben Bernanke Wednesday. Bernanke played down chances of imminent stimulus withdrawal while speaking at a conference sponsored by the National
The yen strengthened across the board in early deals on Wednesday as the Bank of Japan began its 2-day monetary policy meeting today. Downbeat trade data from China also increased demand for the safe-haven yen. Risk-aversion intensified as the International Monetary Fund on Wednesday slashed its global growth forecast for a fifth consecutive time and
