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Dollar slumps as Bernanke wrongfoots bulls
The dollar slumped in thin early Asian trade on Thursday after dovish comments from Ben Bernanke forced markets to cut bullish bets on the greenback as they reassessed when the U.S. central bank was likely to start withdrawing stimulus. The dollar index swiftly retreated from a three-year peak, dropping 2.7 percent -- a magnitude not seen since 2008-2009 at the height of the global financial crisis. Investors dumped the dollar after Federal Reserve Chairman Bernanke said the U.S. central bank would continue to pursue an accommodative monetary policy as inflation remained low and the unemployment rate might be ... (full story)
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