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The dollar (UDN) takes a tumble against a swathe of currencies in the wake of Ben Bernanke's...

The dollar (UDN) takes a tumble against a swathe of currencies in the wake of Ben Bernanke's comments that the U.S. economy needs a "highly accommodative monetary policy for the foreseeable future." Meanwhile, commodities rip higher. Dollar index -1.15%, EUR-USD +0.4%, GBP-USD +0.45%, USD-JPY -0.45%, AUD-USD +0.6%, USD-CAD -0.8%. Oil (OIL) +0.6%, Gold (GLD) +2.9%, Silver (SLV) +4.4%, Copper +2.9%.
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Comments (8)
  • User 483866
    , contributor
    Comment (1) | Send Message
     
    The current Fed, is robbing the american public, especially the older retired persons by keeping interest rates down, thereby not allowing american citizens to receive interest income. While the whole time the Fed is debasing the american dollar for its own gains. Time to Audit the Fed.
    11 Jul 2013, 05:32 AM Reply Like
  • OdysseusCA
    , contributor
    Comments (99) | Send Message
     
    So much for tapering! LOL! I predict that at the first downturn QE will increase to $100B/mo.
    11 Jul 2013, 05:42 AM Reply Like
  • dragos2901
    , contributor
    Comments (74) | Send Message
     
    Expect Mr. Bernanke to say the opposite during the next scheduled speech thereby completely confusing the markets.
    11 Jul 2013, 06:27 AM Reply Like
  • marketwatcher23
    , contributor
    Comments (1256) | Send Message
     
    He is definitely going to start tapering soon. He has made it clear that in his mind "tapering is not tightening"
    11 Jul 2013, 06:43 AM Reply Like
  • Straychan
    , contributor
    Comments (186) | Send Message
     
    I'll believe it when I see it. The economy is addicted and he can't withdraw, even partially.
    11 Jul 2013, 09:37 AM Reply Like
  • Trader_Guy
    , contributor
    Comments (4) | Send Message
     
    When you start talking tapering you have to consider the 17T$ of national debt and what higher interest rates will do to the interest rate payments on that debt. Just tapering talk has caused interest rates to spike as people unload US treasuries in anticipation of higher rates. The Fed has boxed itself in and cannot taper until the nat debt has been brought under control. And, oh yeah, what about the insolvent TBTF banks (about 5 of them, more when you count the European banks) who will either have to be broken up or made solvent by the Fed purchasing all their toxic debt and assets? Nobody likes to talk about that little conundrum but it's still there and getting worse everyday. The only way the banks can bail themselves out is through continuation of their past policies. You know, the ones that involve taking from the middle class and poor, and giving it to the rich, ie, the banks? That's why QE whatever was started and that's why it will continue indefinitely. It's got zero to do with the economy; that's just cover for it's real purpose.
    11 Jul 2013, 10:16 AM Reply Like
  • chivenyc
    , contributor
    Comments (27) | Send Message
     
    Yey! More gainz!
    11 Jul 2013, 06:57 AM Reply Like
  • Cassina Tarsia
    , contributor
    Comments (664) | Send Message
     
    Surprise, surprise ... with so much money printing!
    11 Jul 2013, 10:22 AM Reply Like
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