{"id":17590,"date":"2013-07-12T08:22:39","date_gmt":"2013-07-12T06:22:39","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/17590\/us-dollar-index-crashes-back-to-83-after-bernankes-qe-comments\/"},"modified":"2013-07-12T08:22:39","modified_gmt":"2013-07-12T06:22:39","slug":"us-dollar-index-crashes-back-to-83-after-bernankes-qe-comments","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/17590\/us-dollar-index-crashes-back-to-83-after-bernankes-qe-comments\/","title":{"rendered":"US Dollar Index crashes back to 83 after Bernanke\u2019s QE comments"},"content":{"rendered":"

\"USThe ICE US Dollar Index has stabilised back around 83 early this morning following big losses on Thursday which saw the US dollar crashing lower after the US Fed’s Bernanke comments that QE in America will continue for the short term foreseeable future.<\/p>\n

Latest US Dollar Index Rate<\/strong><\/p>\n

The ICE US Dollar Index, which tracks the dollar against a basket of major world currencies was trading at 83.165, 09:06 GMT this morning on the ICE Futures Exchange. The contract stood as high as 84.781 early on Wednesday.<\/p>\n

Bernanke Comments<\/strong><\/p>\n

The Fed chairman spoke just three hours after the central bank released minutes of the June 18 & 19 gathering showing that about half of the 19 participants in the Federal Open Market Committee wanted to halt $85 billion in monthly QE program by year end. At the same time, the minutes showed many Fed officials wanted to see more signs employment is improving before backing a trim to QE.<\/p>\n

In his speech in Boston on Wednesday Bernanke said this: “There will not be an automatic increase in interest rate when unemployment hits 6.5 percent. And, given the weak labour market and low inflation, it may well be sometime after we hit 6.5 percent before rates reach any significant level.” the Fed chief added.<\/p>\n

The truth is the US Fed seems to be terrified by the gigantic losses that will materialise in its books, should long term interest rates keep rising. That may be the reason for Bernanke’s recent volte face. He is digging himself into a deeper and deeper hole and we will see if he can get out safely.<\/p>\n

So what’s next in store for the US dollar? Many traders and investors after left wondering…<\/p>\n<\/p>\n

Read more from the original source:
\nUS Dollar Index crashes back to 83 after Bernanke\u2019s QE comments<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The ICE US Dollar Index has stabilised back around 83 early this morning following big losses on Thursday which saw the US dollar crashing lower after the US Fed’s Bernanke comments that QE in America will continue for the short term foreseeable future. Latest US Dollar Index Rate The ICE US Dollar Index, which tracks the dollar against a basket of major world currencies was trading at 83.165, 09:06 GMT this morning on the ICE Futures Exchange. The contract stood as high as 84.781 early on Wednesday. Bernanke Comments The Fed chairman spoke just three hours after the central bank released minutes of the June 18 & 19 gathering showing that about half of the 19 participants in the Federal Open Market Committee wanted to halt $85 billion in monthly QE program by year end. At the same time, the minutes showed many Fed officials wanted to see more signs employment is improving before backing a trim to QE. In his speech in Boston on Wednesday Bernanke said this: “There will not be an automatic increase in interest rate when unemployment hits 6.5 percent. And, given the weak labour market and low inflation, it may well be sometime after we hit 6.5 percent before rates reach any significant level.” the Fed chief added. The truth is the US Fed seems to be terrified by the gigantic losses that will materialise in its books, should long term interest rates keep rising. That may be the reason for Bernanke’s recent volte face. He is digging himself into a deeper and deeper hole and we will see if he can get out safely. So what’s next in store for the US dollar? Many traders and investors after left wondering… <\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-17590","post","type-post","status-publish","format-standard","hentry","category-welcome-start-here-tradecrudeoilchatroom"],"_links":{"self":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/17590","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/comments?post=17590"}],"version-history":[{"count":0,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/17590\/revisions"}],"wp:attachment":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/media?parent=17590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/categories?post=17590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/tags?post=17590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}