How Low Will The USD Go?

Continued weakness in the US Dollar has driven the EUR/USD currency pair to 1.4751 during the Asian session. In his remarks to Congress, Fed chairman Bernanke said the US economy is expected to "slow noticeably." Although he characterized the economy as "resilient" overall concerns about inflation, higher energy costs and the struggling housing market increased speculation for another interest rate cut in December. While our indicators remain positive, we look for an unsettled day to close the week. US import and export prices will be released at 13:30 GMT along with balance of trade numbers.