April 14, 2010
U.S. Dollar Falls on Bernanke Testimony
The U.S. Dollar finished lower against most major currencies, driven by the dovish testimony of Fed Chairman Bernanke. In addition to commenting on the direction of
interest rates, Bernanke also emphasized that the economic recovery was still sluggish because of the floundering labor market.
Testifying before the Joint Economic Committee, Bernanke reiterated the Fed’s stance that interest rates would remain low for an “extended period.” He also said that “the
income data …
