Bernanke saves the day, but dollar still falls - just not as hard

Tuesday, November 17, 2009

The dollar fell across the board on Monday although it recovered some after the US Federal Reserve Chairman, Ben Bernanke, commented that the Fed was keeping its eye on the fluctuation in the Dollar soothing those that fear the out-of-control spiralling that the Dollar has been in for the past three months. The Fed chairman went beyond what is typical of a central bank head and spent a good portion of his speech to a private New York organization talking about the Dollar, a move that was seen as reassuring that the US will be quick to act before anything major happened to the Dollar.

At 11:38PM GMT, the US Dollar was trading down .48% to the Euro to 1.4974, down .6% to the Japanese Yen to 89.1, down .91% to the British Pound to 1.6828, down .4% to the Canadian Dollar to 1.0475, down .47% to the Aussie to .9372 and down .51% to the Swiss Franc to 1.0072.


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