Dollar Tanks, Stocks Drop as Bernanke Speech Looms
Excerpt:
* * * The already-pressured dollar was hit further by the news that the Monetary Authority of Singapore widened the trading band for the Singapore dollar amid rising worries over inflation and said it was maintaining its policy of a modest and gradual appreciation of its currency.
"This move has prompted further U.S. dollar selling, especially in Asian currencies, sending the Australian dollar near to parity, and the yen to new 15 year highs," said Michael Hewson, market analyst at CMC Markets. * * *
"More money -- more money -- more money -- !" . . . Yells demented Helicopter Ben
