Verbal intervention won’t stop US dollar losses
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Federal Reserve chairman Ben Bernanke’s unusually direct references to the level of the US dollar and its relevance in policy decisions two weeks ago brought at least temporary relief for the currency, with EUR/USD once again failing around 1.50 and other majors pulling back sharply from new highs. The minutes of the November Federal Open Markets Committee also noted the Fed would “watch closely” if US dollar weakness intensified.
The Fed is not
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