Currencies News
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The dollar fell versus most major peers as stocks rose after Federal Reserve Chairman Ben S. Bernanke indicated the economy isn’t weak enough to need immediate stimulus, encouraging demand for higher-risk assets.
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The pound fell for a fourth day against the euro after a government report showed U.K. economic growth slowed in the second quarter, damping the case for the central bank to raise interest rates.
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Canada’s dollar rose, reversing an earlier decline, after Federal Reserve Chairman Ben S. Bernanke’s prediction that U.S. growth will resume buoyed the outlook for higher-yielding assets.
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Federal Reserve Chairman Ben S. Bernanke said the central bank still has tools to stimulate a recovery that has been weaker than forecast while sticking to his view that growth will pick up.