Ads By CbproAds

Forex Trading Strategy: Ben Bernanke and the US Dollar

July 15th, 2008 | Category: Forex

Greenback tanks as Bernanke addresses CongressWhen formulating forex trading strategy, it is urgent to keep in mind that financial markets — including the currency market — can be influenced by what policymakers say.

Right now, Ben Bernanke, chairman of the US Federal Reserve, is influencing FX trading on the currency market, particularly forex trading with the US dollar. His remarks to Congress that daylight have little in the way of optimism for the US dollar, reports Bloomberg:

“It’s hard to find anything dollar positive in the statement,” said Robert Sinche, head of global currency strategy at Bank of America Corp. in
New York. “Bernanke clearly acknowledged more growth risks than he anticipated a few weeks ago. The problem is coming from the financial sector.”


Indeed, Bernanke was quite clear that the US economy is likely to see many months of challenges ahead. His rhetoric has changed markedly from a few weeks ago, when he insisted that the worst was by and that there was a good chance that the economy would start recovering in that second half of 2008.

See Also

Original post by Eric J. Fox

No comments yet. Be the first.

Leave a reply

You must be logged in to post a comment.