Dollar slides on Bernanke's testimony

The dollar turned lower against the euro, pound and yen Wednesday as investors digested Federal Reserve chairman Ben Bernanke's testimony on monetary policy.

What prices are doing: The dollar slid 0.7% against the euro to $1.3605 and 0.2% against the British pound to $1.5452. The greenback also fell 0.3% against the yen to ¥89.98.

The dollar was higher against the euro and the pound Tuesday following a report that showed U.S. consumer confidence fell sharply in February, snapping a three-month streak of improvement. The downbeat figures sparked concern over the strength in economic recovery, triggering investors to turn to the buck for its safe haven appeal.

Read Full Article from CNNMoney.com

- Posted: 2010-02-24 11:11:44

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