USD/JPY shrugs off Bernanke's dovish words

FXstreet.com (Córdoba) - Even though the US dollar initially weakened on the back of Bernanke's dovish testimony, USD/JPY bounced sharply from the 102.70 area and rallied to fresh 4 ½-year highs as the greenback stages a comeback.

USD/JPY rose nearly 80 pips within the last minutes and reached its highest since October 2008 at 103.45. At time of writing, the pair is trading at the 103.40 zone, recording a 0.9% gain on the day.

May 22, 2013

Commodities Brief – Precious metals trading with volatility following Bernanke testimonial, gold prices cannot sustain 1400 level

Gold prices surged Wednesday, after Federal Reserve Chairman Ben S. Bernanke warned today in a recent testimony that the U.S. economy remains hamstrung by high unemployment and government spending cuts, and tightening policy too soon would endanger the recovery. Indeed, the prices bounced from 1387 to session highs at 1409 during US trading. However, in recent moments, the 1400 level proved to be too much to handle at the moment, causing a movement back towards USD $1396.20 per oz. at the time of writing. Prolonged stability above the 1400 level would effectively cancel an intraday bearish scenario.

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May 22, 2013

USD/CHF soars to new weekly highs during Bernanke questions

USD/CHF is recording the highest prices since summer 2012 while Bernanke is speaking on ‘The Economic Outlook’. Close attention is being paid to his testimony to the Joint Economic Committee of Congress while he is answering questions.

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