Archived IMT (2009.11.16)

USD BRIEFLY STABILIZES after BERNANKE acknowledges USD weakness in his speech stating Our commitment to our dual objectives, together with the underlying strengths of the U.S. economy, will help ensure that the dollar is strong and a source of global financial stability. But as long as the central bank continues to say: inflation seems likely to remain subdued for some time, FX markets will find it hard to buy USD beyond 2 or 3 straight days WITHOUT any selling in equities. Bernanke drives down the message that USD was lower because financial stresses had stabilized. EURUSD still fails to regain 1.50 and oil fails at its 21-day MA. These important price parameters. YEN STABILITY also emegring as USDJOY remains clsoe to session lows and other yen pairs also slipping.