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By Market News Video Staff, Friday, August 27, 12:02 PM ET
Federal Reserve Chairman Ben Bernanke announced today that the central bank is ready to take additional steps to support the struggling US economy should they be necessary. To date, the Fed has pushed interest rates to historic lows in an effort to spur consumer spending and encourage investment in the stock markets.
Following the announcement, the dollar reacted to the news by heading higher against some currencies, but lower against others. The WisdomTree Dreyfus Japanese Yen Fund (AMEX:JYF) and the WisdomTree Dreyfus Euro Fund (AMEX:EU) were both slightly higher, while the CurrencyShares British Pound Sterling Trust (AMEX:FXB) edged lower. So far today, however, it has been the CurrencyShares Australian Dollar Trust (AMEX:FXA) that has shown the biggest move, gaining over 1.1% on Friday.
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