He's back-tracking his past statement and he's trying to clarify through the media, which makes him look a little bit less credible. If you have a Federal Reserve board chairman that looks less credible, that could be considered dollar negative.
More Quotes from Mike Malpede:
We had a stronger-than-expected industrial production number from Germany, which is giving underlying support to the euro, and the third factor is the weakness in the equity market,Mike Malpede
The top (reason for the US dollar's strength) is the yield differential, ... You have Japan officials saying no abrupt change and mixed signals from Europe.
Mike Malpede
We are still focused mainly on the potential that the Bank of Japan has decided to officially end its intervention. This is helping to boost the yen,
Mike Malpede
There have been rumors in the currency trade that there maybe more changes and possibly John Snow may be replaced and that could lead to speculation that the administration may want to change the dollar policy, which I think is far-fetched.
Mike Malpede
The yield differential is going to limit any real upside for the euro right now.
Mike Malpede
Readers Who Like This Quotation Also Like:
Based on Topics: Media & News QuotesBased on Keywords: back-tracking
I always think that I love doing what I'm doing at the moment. The past is over. I can't go play one of those characters again. But I can play this and I can continue to grow in what I'm doing at the moment and that's really what I'm thinking about now.
Gavin MacLeod
I want to make sure that no matter how long I go through this, I don't fall into the trap of changing and modifying how I do things that aren't a positive example. I want to remain somebody that the entire family can listen to or watch.
Clay Aiken
Sometimes in a movie, the lines are so perfect.
Jimmy Fallon