(Bloomberg) -- The dollar strengthened versus the
euro and erased a loss against the yen before a speech by Federal
Reserve Chairman Ben S. Bernanke, who may say rising prices in
the world's largest economy are still a concern.
The U.S. currency rose for a second day against the euro as
traders pared bets the Fed will cut the benchmark interest rate
this year. The central bank said a moderation in inflation hasn't
been ``convincingly demonstrated'' after it left rates at 5.25
percent on June 28. The yen also gained against higher-yielding
currencies as traders unwound so-called carry trades.
Read more at Bloomberg Currencies News
euro and erased a loss against the yen before a speech by Federal
Reserve Chairman Ben S. Bernanke, who may say rising prices in
the world's largest economy are still a concern.
The U.S. currency rose for a second day against the euro as
traders pared bets the Fed will cut the benchmark interest rate
this year. The central bank said a moderation in inflation hasn't
been ``convincingly demonstrated'' after it left rates at 5.25
percent on June 28. The yen also gained against higher-yielding
currencies as traders unwound so-called carry trades.
Read more at Bloomberg Currencies News
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