The dollar continued to lose ground against its major counterparts yesterday, however today traders are a bit wary of selling the currency further amid Bernanke’s testimony in front of the House later today. The FED Chairman will “bare all” in front of the representatives and explain the current economic situation step by step. It is more than likely that the government officials will grill him once again about the “exit” plan out of the... 

The dollar continued to weaken all across the board, after the FOMC meeting didn’t show anything new regarding the rates direction, as most members of the FED were passing along mixed messages, with some saying economy is stalling for now and others that recovery will be fast in the coming months. The lack of a unified message passing across market participants left the investors more confused as to what will happen in the monetary policy over... 

Markets are getting ready for an interesting week, with FOMC meeting the big event of the week, together with Bernanke’s testimony in front of the Senate, which could be crucial for market direction and the dollar. The market participants are waiting for the bank to explain how the current monetary policy is working with low interest rates and potential inflationary dangers which could harm the economy further. The recent comments by Bernanke... 

The dollar continued to gain overnight against its major counterparts, with EUR/USD trading below important 1.39 and GBP/USD finding it hard to gain above 1.61, after new regulations and plans were introduced yesterday by Alistair Darling, concerning the banks and their survival. The reality of that matter is that investors are not in a euphoric mood any more regarding the economic outlook and there is the feeling amongst traders that something...