Currency Note US Dollar

Will Bernanke speech later today support the US dollar?

By Smart Currency November 19th, 2013

The US dollar had a disappointing start to the week, weakening as investors continue to speculate that the Federal Reserve will delay tapering off its quantitative easing program following the comments from Janet Yellen last week. Janet Yellen is perceived to be the most likely candidate to replace Federal Reserve Chairman Ben Bernanke when his tenure ends in January, and last week made clear her opinion that the Federal Reserve should be in no rush to taper until economic recovery is more firmly on track. As a result the US dollar fell, including a second consecutive day loss against the euro. Today, speech’s from two members of the Federal Open Market Committee (FOMC) will be watched closely by investors for further clues as to when the central bank may look to taper. Ben Bernanke will then speak himself late this evening providing further insight, ahead of a data filled day tomorrow. Call your trader now for the latest on the US dollar, as investors try to get an idea of the bigger picture.