MW: Treasurys, dollar lower as Bernanke stays upbeat
By Deborah Levine
Treasurys, dollar lower after Bernanke testimony NEW YORK (MarketWatch) -- Treasury prices and the dollar remained under pressure on Wednesday after Federal Reserve Chairman Ben Bernanke said the U.S. economy is strong enough to withstand the fiscal tightening that is ahead. Still there are "significant restraints" on the economy, he said in remarks prepared for the House Budget Committee. Yields on 10-year notes (UST10Y 3.21, +0.02, +0.75%) , which move inversely to prices, rose 3 basis points to 3.22%. The euro (CUR_EURUSD 1.2032, +0.0059, +0.4929%) rose to $1.2031, compared to $1.1942 in late North American trading on Tuesday. The dollar index (DXY 87.66, -0.73, -0.83%) , which tracks the U.S. unit against a basket of six major currencies, stood at 87.665, down from 88.307 late Tuesday.
