Monday October 20, 03:27 PM
FOREX-Dollar extends gains vs yen on Bernanke testimony
NEW YORK, Oct 20 (Reuters) - The U.S. dollar extended gains versus the yen on Monday after Federal Reserve Chairman Ben Bernanke told Congress that another stimulus plan may be needed to boost the sluggish economy.
The dollar was
last up 0.2 percent at 101.83 yen, versus 101.69 yen before Bernanke's testimony. The euro last traded down 0.5 percent at $1.3346, compared to $1.3360 before Bernanke's speech.
'With the economy likely to be weak for several quarters, and with some risk of a protracted slowdown, consideration of a fiscal package by the Congress at this juncture seems appropriate,' Bernanke said in prepared remarks for delivery to a congressional panel.
(Reporting by Lucia Mutikani; Editing by Tom Hals) Keywords: MARKETS FOREX
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