Excerpt from: Futures and Commodity News
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| February 14, 2007 | | The U.S. dollar is mixed against major currencies ahead of Ben Bernanke's Senate testimony | Spread bets, CFDs, and spot forex trades involving the U.S. dollar should be wary today, as the dollar is mixed against major currencies. U.S. Federal Reserve Chairman Ben Bernanke is slated to testify before the Senate today, and this is affecting the U.S. dollar on the spot forex market, reports Forbes:
NAB Capital said in a currency market note: 'If he points to the
risk of inflation remaining too high and downplays the housing
downturn, then expectations for a Fed rate cut could be pared, boosting
the US dollar.' But United Overseas Bank
said in a note: 'We expect the chairman's comments on the current
growth and inflation backdrop to be similar to the tone of the January
Federal Open Market Committee statement.' | | |
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