iBankCoin
Joined Nov 11, 2007
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The Dollar Hits an Eight Week Low as QE is Expected

“The dollar fell to an eight-week low against the euro before Federal Reserve Chairman Ben S. Bernanke delivers his annual speech on monetary policy at the central bank’s symposium in Jackson Hole, Wyoming.

The U.S. currency weakened against all but two of its 16 major counterparts after Atlanta Fed President Dennis Lockhart said yesterday the central bank has a tough decision on whether to add further stimulus to promote a stronger economic recovery. Bernanke’s address in 2010 preceded a second round of quantitative easing to support growth. Sweden’s krona rose by the most in two weeks against the greenback amid demand for higher-yielding assets.”

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