Joined Nov 11, 2007
31,929 Blog Posts

The Greenback Falls for a Third Day Before Today’s Clam Testimony

“The dollar weakened for a third day against the euro amid speculation Federal Reserve Chairman Ben S. Bernanke will hint at additional stimulus when he speaks to Congress about monetary policy starting today.

The U.S. currency fell versus 12 of its 16 major peers after an unexpected decline in retail sales announced yesterday rekindled speculation the Fed will introduce additional steps to support the economy. The Swedish krona strengthened against all its major counterparts after the Riksbank released minutes of its July meeting. Australia’s dollar rose as central-bank minutes said the economy has some “momentum.”

Full article

If you enjoy the content at iBankCoin, please follow us on Twitter