Dollar is not on the bottom four of six against the euro

Dollaris not on the bottom four of six against the euro on Tuesday after a Federal Reserve chairman Ben Bernanke gave a cautious assessment of the state of the U.S. economy, which returned the attractiveness of the dollar as a means of security. Reduction of risk appetite and give support to the yen and placed under high tension currencies such as Australian and New Zealand dollar. Bernanke gave a statement before the Senate Banking Committee, which said unemployment will likely remain high through 2011, which would undermine consumption and slow recovery. Also add that the main interest will remain low for a long time and expressed concern about the budget deficit. Speech led to a decline of the euro against the dollar to 1.4199, back in the top six week 1.4277 reached earlier in the day. The yen against the green of money and the single currency gave up to ¥ 132.97 and 93.69. Sterling was also under pressure, to cheapen the dollar to 1.6443 after the island’s budget deficit reached 13 billion pounds, which is the highest level for June since the beginning of keeping statistics in 1993. During the day the Canadian Central Bank maintained interest in the country without changing the record low of 0.25 percent.

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Finance