Why did the dollar plunge today?

[dazed101]

I don't get why the dollar lost so much ground today and why stocks jumped up.
Anyone care to help out?

 

[Johnny Walker]

FEDERAL RESERVE

 

[dandxg]

From what I heard Ben said inflation not such a problem=concerns none/or not many more rate hikes makes dollar go down.

 

[WaveMaster]

It looks like Bernanke's testimony had to do with the dollars loss.
Do you have an economic data release calendar that you reference to know about upcoming events? DailyFX has the most complete calendar that I've come across. The prominent releases are in bold print.

http://www.dailyfx.com/story/calend...Economic_Calendar_For_Week_1152891888783.html

 

[dazed101]

hmm, so I don't understand why the dollar plunged last time when ben raised the interest rate.

 

[DrawDown]

Ivvy said he was gonna "sell" the Dollar... market panicked.

He then changed his mind.

The Dollar will come back.

fx
1.2595

 

[steveosborne]

Because of lower growth expectations.

 

[dazed101]

drawdown, you're kidding right?

 

[dazed101]

steve, thanks you cleared everything up for me!

 

[eagle]

Because traders think they cannot make money by going long on USD.