The US dollar produced losses versus a basket of currencies as a speech by Federal Reserve Chairman Bernanke hinted to additional quantitative easing. The nation’s central bank head reiterated their plan to keep interest rates near zero until at least 2014. Bernanke cited high unemployment and considerable downside risks, adding that continued accommodative policy will be needed to foster growth. Against the Japanese yen, the greenback rose to 83.01 from 82.58. Versus the Swiss franc, the US dollar dropped to 0.9030 from 0.9073. Federal Reserve Chairman Bernanke reversed market sentiment with his speech yesterday and as he is due to deliver a lecture later today at 16:45 GMT, investors are expected to be cautious of another occurrence of the Bernanke effect.
Oil prices rose to 106.70 from 106.39 dollars a barrel. Gold advanced to 1688.87 from 1668.43 US dollars an ounce. Against the euro, gold jumped to 1265.11 from 1252.18 an ounce. Silver rose to 32.71 from 32.21 dollars an ounce.
|EURUSD||1.3280||LONG @ 1.3290||26% of deals buy EUR|
|USDJPY||82.55||LONG @ 82.60||44% of deals buy USD|
|GBPUSD||1.5915||LONG @ 1.5925||21% of deals buy GBP|
|AUDUSD||1.0495||LONG @ 1.0495||44% of deals buy AUD|
|GOLD||1669||LONG @ 1669||62% of deals buy GOLD|
|OIL||106.10||LONG @ 106.10||49% of deals buy OIL|
|EUR||07:00||German Import Prices m/m for February||0.9%|
|GBP||11:00||CBI Distributive Trades for March||-6|
|USD||14:00||Case Schiller 20 m/m for January||-0.6%|
|FTSE 100||0.82%||S&P 500||1.39%||NIKKEI||2.36%|