Dollar in tight ranges ahead of Bernanke speech
NEW YORK (AP) — The dollar moved in tight ranges against other major currencies Thursday as traders looked ahead to Friday's speech by Federal Reserve Chairman Ben Bernanke.
Bernanke is giving his annual speech on monetary policy at 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 seemed to indicate that the central bank was leaning toward more help for the U.S. economy.
The euro fell to $1.2505 in late trading Thursday from $1.2528 late Wednesday. The British pound fell to $1.5787 from $1.5836.
The dollar fell to 78.63 Japanese yen from 78.70 yen, to 0.9601 Swiss franc from 0.9587 Swiss franc.
The dollar rose to 99.23 Canadian cents from 98.86 Canadian cents.