The dollar came under some pressure on announcement that 3-month dollar libor fixed down at 0.49781 from 0.50625 Wednesday. First fix below 0.50% since May 21. The lower US rates come in the wake of Bernanke’s downbeat comments on the US economy yesterday.
The news helped euro bulls trip stops above 1.2850 on way to 1.2877 session high. We’ve presently slipped back to 1.2855.
