NEW YORK (AP) — The dollar fell against most major currencies Friday, after Federal Reserve Chairman Ben Bernanke said that the central bank can do more to help the U.S. economy rebound.
Traders have been speculating about the odds of another round of quantitative easing from the Fed. It has already launched two rounds of bond purchases, most recently in August 2010. Those purchases push interest rates lower and can weaken the dollar, which is why traders are trimming their holdings in the currency.
Bernanke made his comments at an annual Fed conference in Wyoming's Jackson Hole resort Friday.
The euro rose to $1.2577 in late trading Friday from $1.2507 late Thursday. The euro rose as high as $1.2637 early Friday, its highest point against the dollar since July 2.
The British pound rose to $1.5881 from $1.5787.
The dollar fell to 78.33 Japanese yen from 78.63 yen, to 0.9549 Swiss franc from 0.9602 and to 98.55 Canadian cents from 99.25 Canadian cents.
The dollar also weakened against the Australian and New Zealand dollar, the Norwegian krone, the Hong Kong dollar and the Brazilian real.
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