Reuters: US Dollar Report: Euro trades lower vs the dollar after Bernanke

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Euro trades lower vs the dollar after Bernanke Jun 7th 2012, 14:23 NEW YORK, June 7 | Thu Jun 7, 2012 10:23am EDT NEW YORK, June 7 (Reuters) - The euro surrendered all gains against the dollar and traded lower on Thursday after Federal Reserve Chairman Ben Bernanke said the U.S. central bank was ready to shield the economy if financial troubles mounted but offered few hints that further monetary stimulus was imminent. . The euro was last at $1.2559, down 0.1 percent from the prior close, compared with $1.2607 before Bernanke's testimony to Congress was released. "I don't think he is definitely saying that QE3 is on the way," said Fabian Eliasson, vice president of currency sales at Mizuho Corporate Bank in New York. "He's saying what he has said before, reassuring people that they will act if things deteriorate further. In other words, they are there if needed but they don't feel they are needed yet."

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