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08-22-2008, 05:14 PM
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US dollar trims gains vs euro after Bernanke comments
NEW YORK, Aug 22 (Reuters) - The U.S. dollar trimmed gains against the euro on Friday after Federal Reserve Chairman Ben Bernanke said a stable currency and a decline in commodity prices should help slow inflation this year and next.
His remarks pared back expectations of an U.S. interest rate increase this year, diminishing the dollar's appeal to global investors. The euro <EUR=> rose as high as $1.4835 against the dollar from $1.4815 before Bernanke's remarks. Against the yen <JPY=>, the dollar held gains at 109.97 yen. Bernanke spoke at an annual symposium in Jackson Hole, Wyoming. For details, see [ID:nWEQ000126]. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Jonathan Oatis)
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