That’s how Mr. Market is trading the Bernanke luncheon speech in New York. Bernanke was not overly dovish, by his standards, and said little new in his speech other than to explicitly define how far the Fed feels unemployment needs to fall and that the potential growth rate of the economy may be lower than before the financial crisis. If that is deemed to be the case by the Fed, they may not end up being as easy as the market had anticipated.
EUR/USD has dipped to 1.28 from 1.2820 ahead of the headlines.
