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Forex Market Alerts
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USD/JPY, USD INDEX Flows − More of Fed Bernanke hearing; USD INDEX off 15−m lows
Wed, Dec 2 2009, 03:28 GMT
by FXMarketAlerts Team
Intraday Analysis from FXMarketAlerts.com
Receive FREE Weekly Strategies.Published at 03:14 (GMT) 02 Dec
More on FT article by Krishna Guha on Fed Bernanke hearing: Allan Meltzer, a professor at Carnegie Mellon and historian of the Fed, says relations between Congress and the central bank are the "worst" and "the most threatening" in its history. Fmr Fed Vice Chair Alan Blinder says "quite a few people in Congress on both sides of the aisle feel that the Fed overstepped its authority" by using emergency powers to allocate money without specific congressional approval. Voters – suffering 10.2% unemployment – blame the Fed for hated bail-outs. "In the public mind there is no operational line between what the Treasury did and what the Fed did, and no line between lending money and spending money." On FX, good to watch the Senate hearing. USD INDEX off lows at 74.432, with support t 74.00-10, eye test of 75.00. WL
Published on Wed, Dec 2 2009, 03:30 GMT
Archive
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Published On Tue, Feb 9 2010, 03:48 GMT
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