Dollar Drops to More Than Two-Week Low Against Euro on Bernanke's Comments

(Bloomberg) -- The dollar dropped to a more than
two-week low against the euro as Federal Reserve Chairman Ben S.
Bernanke said a slowdown in housing construction will remain a
drag on economic growth ``somewhat longer'' than expected.

The U.S. currency also dropped against the yen and pound as
Bernanke said tighter lending standards for mortgages will
``restrain'' housing demand. The dollar fell earlier on
speculation the European Central Bank and the Bank of England
will signal higher interest rates at meetings this week,
increasing the value of local currencies.


Read more at Bloomberg Currencies News