Despite another round of weaker economic data and a decline in the 10 year Treasury yield, the U.S. dollar has not extended its losses as investors realize that Bernanke's comments are targeted at the recent rise in bond yields. He may not be as serious about boosting monetary stimulus as his comments suggest but he fully intends to keep interest rates low and the money flowing. QE3 is a decision that the Federal Reserve will not make lightly and one that will probably be reserved for a more troubled time in the U.S. economy.
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