Fed Chair Comments Boost Greenback

U.S. Federal Reserve Chairman Ben S. Bernanke came out in support of a stronger U.S. dollar yesterday (Tuesday), indicating the Fed would remain on pause at its next meeting. Speaking via satellite at the International Monetary Conference in Barcelona, Spain, Bernanke said the Fed is working with the Treasury to “carefully monitor developments in foreign exchange markets .” The Fed Chair said he was aware the effect of the dollar’s decline on inflation and price expectations, Bloomberg News reported. Also, interest rates are currently “well positioned” to promote both growth and stable prices, he added. “I can’t recall such a strong defense of the dollar from a…
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