Dollar little changed ahead of Bernanke speech

AP News
Posted: Aug 27, 2012 3:41 PM
Dollar little changed ahead of Bernanke speech

NEW YORK (AP) — The dollar moved in tight ranges against other major currencies in light trading Monday. Traders looked ahead to a speech later this week by Federal Reserve Chairman Ben Bernanke.

On Friday, Bernanke is giving his annual speech on monetary policy from Jackson Hole, Wyo. Traders will be watching to see whether he hints that the central bank will take additional steps to help the U.S. economy.

Last week, minutes from the Federal Reserve's last policy meeting appeared to show it was leaning toward more help for the U.S. economy.

Currency trading was light Monday because of a bank holiday in the United Kingdom. Also, many traders in the U.S. are off this week ahead of the Labor Day holiday.

The euro slipped to $1.2503 in late trading Monday from $1.2519 late Friday. The British pound fell to $1.5797 from $1.5810.

The dollar rose to 78.75 Japanese yen from 78.70 yen and to 0.9606 Swiss franc from 0.9592 Swiss franc.

The dollar fell to 99.04 Canadian cents from 99.12 Canadian cents.