The dollar declined across the board Thursday after Federal Reserve Chairman noted economic risks to a “weakened” dollar, which is at historic lows against several currencies. The dollar declined across the board Thursday after Federal Reserve Chairman noted economic risks to a “weakened” dollar, which is at historic lows against several currencies. Bernanke, in prepared remarks to the Joint Economic Committee on Capitol Hill, said the falling dollar could fuel higher inflation. He also said economic growth should slow “noticeably” this quarter and into 2008 as the housing slump intensifies.Bernanke’s comments also helped reverse earlier gains in U.S. stock markets, which has taken risk appetite off the table in currency markets. That is pushing the dollar and the euro lower against the yen as investors pull out of their bets on higher-yielding currencies. , in prepared remarks to the Joint Economic Committee on Capitol Hill, […]
This entry was posted on Thursday, November 8th, 2007 at 12:32 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. RSS 2.0. Both comments and pings are currently closed.