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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.

Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.

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.