BLBG: Dollar Pares Loss on Bernanke’s Pledge to Support Currency
By Ye Xie and Oliver Biggadike
Nov. 16 (Bloomberg) -- The dollar pared its loss against the euro as Federal Reserve Chairman Ben S. Bernanke said the Fed is “attentive” to changes in the greenback’s value and “will help ensure that the dollar is strong.”
The dollar traded at $1.4924 per euro at 12:18 p.m. in New York, compared with $1.4903 on Nov. 13.
The Fed repeated at its policy meeting this month its intention to leave borrowing costs “exceptionally low” for “an extended period” as long as inflation expectations are stable and unemployment fails to decline.
To contact the reporters on this story: Ye Xie in New York at yxie6@bloomberg.net; Oliver Biggadike in New York at obiggadike@bloomberg.net
