The US dollar gained on Wednesday as US Federal Reserve’s Chairman Ben Bernanke pointed out barriers in was of US economic recovery. Bernanke also gave some hints about Fed’s future direction on monetary policy. The dollar index DXY which measures the US dollar’s performance against its major six rival currencies surged to 74.791 on Wednesday as compared to 74.553 on Tuesday’s North American trading session.
The euro also gained versus the greenback to 1.4360 on Wednesday as compared to 1.4305 on Tuesday’s late trading hours.
The British Pound remained under selling pressures and declined to 1.6101 on Wednesday against the US dollar as compared to 1.6246 on late Tuesday. The euro surged 0.86 percent versus the Pound Sterling to 89.43. The British Pound declined on the news that Bank of England is planning to leave the interest rates unchanged despite high inflation.
The US dollar gained to $80.33 against the Japanese Yen as compared to 80.13 on late Tuesday. Among other currencies Australian unit dropped to 1.0574 versus the greenback on Wednesday as compared to 1.0601 on Tuesday.
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