Ben Bernanke: U.S. recovery “fragile.”

Bernanke does it again. Speaking in Washington, Bernanke deflates hope that the U.S. economy will recover, despite recent gains. His comments also lower the value of the dollar. Has he scared you again? Will Congress feel compelled to reappoint him as chairmen of the FED?

Following Mr Bernanke’s comments, the dollar lost recent gains it had made against the euro.

The euro rose by more than one cent to $1.4883 after Mr Bernanke’s remarks, before falling back to $1.4821.

US stocks also rose modestly after the speech, but finished broadly flat, with the Dow Jones index closing just 1 point higher at 10,390. BBC