CAMBRIDGE, Massachusetts Federal Reserve Chairman Ben Bernanke said on Wednesday that the U.S. dollar seems to be doing "OK" and that the central bank's policies are not aimed at trying to boost U.S. exports.
"The dollar seems to be doing OK and we are not trying to divert exports from anywhere else," Bernanke said at a conference sponsored by the National Bureau of Economic Research.
The dollar, however, fell in the wake of Bernanke's comments that the central bank would pursue accommodative monetary policy for the foreseeable future.
Bernanke also said that financial stability is extremely important and that is a lesson people are unlikely to forget any time soon.
(Reporting by Svea Herbst-Bayliss; Editing by Dan Grebler)