Tags
Ben Bernanke, danger of stalling, dollars fall, economy, Federal Reserve, fiscal-policy deadlock, government bonds, House Financial Services Committee, politics, responding to STIMULUS needed, turmoil
Newsmax.com
Wednesday, 13 Jul 2011 01:50 PM
The dollar weakened against all its most-traded counterparts as Federal Reserve Chairman Ben S. Bernanke said policy makers will provide economic stimulus if needed and investor demand for higher-yielding assets increased.The greenback fell the most in six months versus the euro as Bernanke said central bank is prepared to take additional action, including buying more government bonds, if the economy appears to be in danger of stalling. The Australian and New Zealand dollars led earlier gains against the currency after China’s economic growth exceeded analysts’ estimates. The euro advanced as Italian and Spanish bonds rose for a second day.“The markets are weighing the trade-off between the potential for liquidity injections and worsening in global growth prospects,” said Aroop Chatterjee, a currency strategist at Barclays Plc in New York. “For the time being liquidity is winning out. Bernanke’s comments may take some of the focus off what markets have been trading on, which have been largely linked to European news.”
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Obama Donor Banned This Message After putting $803,436 in Obama’s campaign coffer, Google asked us to revise our video (it exposes what Bernanke and Obama are really up to). So we did . . . for them. But you can see the original version here.
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The dollar weakened 1.4 percent against the euro to $1.4166 at 12:38 p.m. in New York, its biggest drop since Jan. 13. It reached $1.3837 yesterday, the strongest level since March 11.
The Standard & Poor’s 500 Index rose 1.2 percent and the yield on 10-year Treasuries increased seven basis points to 2.95 percent.
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