Sponsored Links
The dollar rebounded against its major counterparts Friday, even after U.S. Federal Reserve Chairman Ben Bernanke reiterated that any interest rate hike would have to come on the heels of substantial evidence of economic recovery.
Subsequently, the dollar was able to set multi-day highs against the euro, pound and yen.
Fed chief Ben Bernanke said Thursday evening that the Fed will begin tightening monetary policy "when the economic outlook improves sufficiently."
Speaking today before the Federal Reserve Board Conference on Key Developments in Monetary Policy in Washington D.C., Bernanke added that the timing and pace of any future tightening or use of other tools would be done "to best foster our dual objectives of maximum employment and price stability."
The dollar was able to build on its earlier gains against the euro, rising to a two day high of 1.4673. Despite today's gain, the dollar has moved considerably lower on the week, testing a one year low 1.4845 as recently as yesterday.
The gains against the Eurozone currency also came as European Central Bank President Jean-Claude Trichet stated today that this is not an appropriate time to exit stimulus measures, as it would be premature to think that the crisis is over and conquered in a sustainable manner.
The buck gained on the pound, rising to a one week high of 1.5826. With the advance, the dollar moved back toward September's four month high of 1.5771.
The dollar also surged against the yen, achieving a four-day high of 89.82. With the gain, the buck has pared its losses from earlier in the week, finding support after testing a 1995 low of 87.08, set back in January.
0 komentar:
Post a Comment