The dollar rose against basket of major currencies after remarks from Federal Reserve Chairman Ben Bernanke kept intact expectations that the Fed would be first among the major central banks to move away from ultra-loose monetary policy.
Bernanke, in testimony to Congress on Wednesday, said the Fed still expects to start scaling back its massive bond purchase programme later this year, but he left open the option of altering that plan if the economic outlook changes.
Analysts expect the dollar to head higher gradually, given the divergent monetary policy outlook for the United States and other countries.
Bernanke will testify before the Senate Banking Committee later on Thursday, but is seen likely to stick to the themes put before the House Financial Services Committee.
Source: FinFX Daily Market Outlook (www.finfx.fi)
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USD Rose Against Basket Of Major Currencies On Bernanke's Remarks
Published 07/18/2013, 03:44 AM
Updated 02/21/2017, 08:25 AM
USD Rose Against Basket Of Major Currencies On Bernanke's Remarks
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