The US dollar headed today to the lowest level in 15 years before the speech of the Federal Reserve Chairman Ben Bernanke, which may make clearer the steps intended by the Fed for the quantitative easing.
The Federal Open Market Committee signaled this week about additional stimulus for the US economy, today’s Bernanke speech may provided more details about the intended measures. It looks like the traders put more attention to the US quantitative easing than to the possible Japan’s intervention, driving the dollar down against the yen.
USD/JPY fell from 81.47 to 81.12 as of 12:05 GMT after it reached 80.88 yesterday, the lowest level since April 1995.
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