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Dollar spikes then falls

Take a look at the dollar chart, it spikes up then falls straight back down. I wonder what that was all about.

http://www.goldseek.com/quotes/charts/usdollar/usdollarindex...



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I have to be honest

I get a little scared thinking about how bad it could get.

"We can see with our eyes, hear with our ears and feel with our touch, but we understand with our hearts."

That spike was Bernanke speaking

These 2 post show what happened
FedSpeak Proves Correlation *AGAIN*
http://market-ticker.org/archives/1629-FedSpeak-Proves-Corre...
FedSpeak Translation 11/16
http://market-ticker.org/archives/1630-FedSpeak-Translation-...
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SteveMT's picture

Nowonder: Bernanke keeps eye on sliding dollar?? Dumb!

Bernanke: Fed will keep eye on sliding dollar
Bernanke: Fed will keep eye on sliding dollar, but pledges anew to hold rates at record-lows
Jeannine Aversa, AP Economics Writer
2:12 pm EST, Monday November 16, 2009

WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke on Monday said the central bank will keep a close eye on the sliding U.S. dollar even as he pledged anew to keep interest rates at record-lows to nurture the economic recovery.

In remarks to the Economic Club of New York, Bernanke engaged in a delicate dance.

He made clear Fed policymakers will keep rates at super-low levels. Yet through his words, Bernanke is also trying to bolster confidence in the dollar without actually raising rates, a move that could short-circuit the fragile recovery.

Economists say a free-fall in the value of the dollar is remote but can't be entirely dismissed.

http://finance.yahoo.com/news/Bernanke-Fed-will-keep-eye-on-...

Great Links

Thanks I knew someone on here would be able to put into perspective.

SteveMT's picture

WOW GCG3!: Where is bottom?

What's happening?
People are giving up on the dollar.
The signs are all around.

jeez I hope that wasn't the death dance

I'm not ready to see the bottom, lots more to do.