Monday, December 6, 2010

USD higher on Bernanke's comments

FXstreet.com (Barcelona) - The USD is commnading the table of best performing currencies in the Asian session; the currency posted limited gains against its main rivals despite a weak start.
The shift in sentiment, with investors now less susceptible on holding USD long positions came after Fed's Ben Bernanke script release on its Friday's interview for CBS.

"Whilst he didn't rule out the extension of the current $600 billion bond buying program, his comments were more measured and relatively bullish on the US economy given last Friday's payroll number" commented Sean Lee, Editor at Forexlive.

He added: "This has encouraged some USD shorts taken on Friday to take their profits, although any rallies in the USD especially against currencies like the CHF are likely to be met by grateful sellers".
EUR/USD continues to slide further down, at present quoting 1.3344. GBP/USD stays at 1.5740, AUD/USD gave up 0.9900 to bottom at 0.9884, while USD/JPY jumped to 82.90.

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