Hi there
Dollar extends rebound following hawkish comments from Bernanke who said that the Fed will "resist an erosion of longer-term inflation expectations, as an unanchoring of those expectations would be destabilizing for growth as well as for inflation." On the other hand, Bernanke also played down the unexpected surge in unemployment rate shown last week and said that "the recent incoming data, taken as a whole, have affected the outlook for economic activity and employment only modestly." Also, he believed that "the risk that the economy has entered a substantial downturn appears to have diminished over the past month or so.
James
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