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Now Bernanke says he too supports a strong dollar

Section: Daily Dispatches

By Kate Gibson
Monday, November 16, 2009

NEW YORK -- The Federal Reserve is commited to a strong U.S. dollar, Fed Chairman Ben Bernanke said Monday.

Typically, no U.S. official other than the Treasury secretary speaks about the value of the dollar.

Bernanke said the recent weakness in the U.S. dollar largely reflects movements in and out of safe havens, but promised that the Fed would closely monitor developments in the exchange markets.

"We are attentive to the implications of changes in the value of the dollar," he said, adding that Fed policy would "help ensure that the dollar is strong and a source of global financial stability."

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