Thursday, November 3, 2011

Dollar Falls as Markets Mulls Prospect of More Fed Easing

Thanks Ben Bernake!
The dollar weakened broadly Wednesday, as the suggestion of more monetary stimulus by the Federal Reserve momentarily counterbalanced fears that Europe's debt crisis may spin out of control.

In a decision that kept U.S. interest rates at rock-bottom levels, the Fed's Open Market Committee downgraded its forecasts on growth while raising estimates for unemployment. In a press conference, Fed Chairman Ben Bernanke suggested that the central bank stands ready to push for a third round of quantitative easing, or QE3, to support an economy that remains weak.

WORLD FOREX: Dollar Falls As Markets Mull Prospect Of More Fed Easing - WSJ.com

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Breaking US Dollar Collapse News

What's Behind the Decline of the US Dollar?

This is one the of the best and simplest explanations we have seen:
The U.S. dollar's downward slide is accelerating as low interest rates, inflation concerns and the massive federal budget deficit undermine the currency. - Wall Street Journal, April 23, 2011
Interestingly, the Federal Reserve is responsible for, or an active participant in all three of these factors.