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17 Jul 2013
EUR/USD slumps as Bernanke begins Q&A
FXstreet.com (Córdoba) - Although nothing new has been said, EUR/USD fell to fresh lows sub-1.3100 soon after fed Chairman Bernanke started his testimony before the Congress.
EUR/USD dropped over 50 pips to hit a low of 1.3083 in recent dealings where the 100-hour SMA offered provisional support. At time of writing, EUR/USD is trading at the 1.3085 zone, where it records a 0.6% loss on the day.
Bernanke says...
Adding to his dovish remarks, Bernanke said in the Q&A that the US is in a difficult financial environment, difficult to communicate with markets, but they have begun to understand Fed's thinking. He said fiscal policy is too focused on the short-term. Q&A still underway.
EUR/USD dropped over 50 pips to hit a low of 1.3083 in recent dealings where the 100-hour SMA offered provisional support. At time of writing, EUR/USD is trading at the 1.3085 zone, where it records a 0.6% loss on the day.
Bernanke says...
Adding to his dovish remarks, Bernanke said in the Q&A that the US is in a difficult financial environment, difficult to communicate with markets, but they have begun to understand Fed's thinking. He said fiscal policy is too focused on the short-term. Q&A still underway.