Investors sold the U.S. dollar following the release of Fed Chairman Ben Bernanke's prepared comments for this morning's testimony. To their disappointment, the Fed Chairman did not sound as hawkish as Fed Presidents Fisher and Lacker. The notorious dove was cautiously optimistic, reiterating many of the points that he made back on February 3rd. He feels that the decline in jobless rate in December and January provides grounds for optimism on the employment rate front but Americans will still have to deal with a high employment rate for some time.
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