Bernanke does not deviate from the usual script. The economy is improved but we’re not out of the woods yet…yada, yada.

Inflation expectations from both market-passed (TIPS) and survey-based sources appear stable , he says.

EUR/USD is consolidating in the high 1.3360s while USD/JPY is further undermined by the dip in US yields, trading in the mid-92.40s.

Aussie continues to rise, now at 0.9292. No one loves Aussie like New York…