Aug. 31, 2012, 3:46 p.m. EDT
Dollar falls to lowest in more than 3 months
Dollar down 1.6% on month; Bernanke open to QE, no hint at timing
By Myra P. Saefong and William L. Watts, MarketWatch
SAN FRANCISCO (MarketWatch) — The U.S. dollar fell to its lowest level in more than three months Friday, after Federal Reserve Chairman Ben Bernanke said he was open to more quantitative easing to boost the economy, but failed to provide any hints on the timing of such action.
The ICE dollar index DXY-0.58% , which measures the greenback against a basket of six other major currencies, fell to 81.242 — it’s lowest since May 21, on a closing basis. It traded around 81.174 shortly before Bernanke’s speech, cut its loss to trade around 81.304 after, then fell back to touch a low of 80.964.
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In his speech at the Fed conference in Jackson Hole, Wyo., Bernanke shot down every objection to further quantitative easing and said the evidence is clear that the benefits of QE outweigh the costs.
More: http://www.marketwatch.com/story/dollar-slips-as-markets-await-bernanke-2012-08-31
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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