Forex @ DailyFX - U.S. Dollar Plummets as Bernanke Suggests Further Easing on Horizon

Forex @ DailyFX - U.S. Dollar Plummets as Bernanke Suggests Further Easing on Horizon

The U.S. Dollar plummeted against a basket of currencies at 14:00 GMT as Federal Reserve Chairman Ben Bernanke began his testimony at the Semiannual Monetary Policy Report to the Congress, in which it was evidently clear that the Federal Reserve was ready to continue its loose monetary policy – and thus further devalue the U.S. Dollar – in order to boost growth prospects for the U.S. economy.