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| EURO as of 8.31.2012 |
As Fed Chairman Ben Bernanke made no mention to the next wave of Quantitative Easing (QE3) at his Jackson Hole speech, but as always has emphasized that the Fed is ready to extend any assistance whenever it is necessary to boost the US economy.
Although, the USD gained a small relief-recovery from the US Consumer Sentiment as it rose to a three (3)month high in August as a slowing sign that the US economy is somehow recovering. However, the US Dollar (Index) then manage to decline against the Euro & Cable prior to the much anticipated Fed Bernanke's speech that the USD had fallen to almost in its eight weeks’ low and settling the end of the month at the 81.25 basis point lower band support. With the EURUSD registering a high at the 1.2637 and GBPUSD (Cable vs.USD) at the 1.5860 as both major pairs initially pushed through their respective resistances above the 1.5880 and 1.2580 as the USD declined at a gradual pace during the American trading session. Please continue....
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