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Euro extends gains vs dollar on Bernanke testimony
May 22, 2013 / 2:11 PM / in 5 years

Euro extends gains vs dollar on Bernanke testimony

NEW YORK, May 22 (Reuters) - The euro extended gains against the dollar, while the dollar pared gains against the Swiss franc and yen on Wednesday after Federal Reserve Chairman Ben Bernanke said monetary stimulus is helping the U.S. economy recover and the central bank needs to see further signs of traction before it removes existing measures.

The euro was last up 0.6 percent at $1.2980 after climbing as high as $1.2983, a one-week high. The dollar was last at 102.83 yen compared with the 103 yen it traded at before Bernanke’s testimony reached investors. The dollar was at 0.9710 Swiss franc compared with the 0.9732 it traded at prior to Bernanke.

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