Dollar Strengthens after Stimulus Proposal

The U.S. dollar rose today against other major currencies, except the yen, after the Federal Reserve Chairman Ben Bernanke proposed further measures to provide more liquidity and credit confidence to the U.S. economy.
Although the counter-crisis measures are taken by the various countries with the developed economies, but the most-benefiting currencies are the dollar and the Japanese yen, which offer the lowest yield and risk among the major currencies.
It looks like United States are ready to go with stimulating the economy as far as it will be required by the current money-market conditions. In his testimony to the House Budget Committee Ben Bernanke said that the measures to provide credit to the consumers, homebuyers and other borrowers should be considered.
EUR/USD fell from 1.3331 to 1.3261 as of 7:38 GMT today, declining for a third day. GBP/USD also went down today but at lesser extent — from 1.7147 to 1.7117. USD/JPY declined, marking the strength of the yen, from 102.06 to 101.05.

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