Daily Forex Commentary February 24, 2010

February 24, 2010

Bernanke Interest Rate Outlook Softens U.S. Dollar

The U.S. Dollar regained most of its mid-session loss to finish only slightly worse than Tuesday. Comments from Fed Chairman Bernanke triggered an early session break after he
reiterated the Fed’s stance that interest rates would remain low for an “extended period.”

Bernanke also emphasized that last week’s discount rate hike was not an indication of monetary policy tightening. This was a concern for most investors who wanted the Chairman to give
a few clues as to …

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