MW: Dollar turns up versus euro on Bernanke, UMich
NEW YORK (MarketWatch) -- The dollar erased earlier losses against the euro and a basket of major currencies and turned up slightly on Friday, after Federal Reserve Chairman Ben Bernanke hinted at more quantitative easing but remained conservative in his comments. "His choice not to break new ground in public at this conference may be an indication that he is still having trouble reaching consensus on a precise policy instrument and QE pattern," said Greg Anderson, senior foreign-exchange strategist at Citigroup. Also,the University of Michigan's consumer sentiment index fell in October. The dollar index (DXY 76.67, +0.03, +0.04%) , a measure of the U.S. unit against a basket of major global currencies, turned up to 77.700, after falling as low as 76.114 earlier and from 76.659 in North American trade late Thursday. The euro (EURUSD 1.4039, -0.0037, -0.2629%) slipped to $1.4038, from $1.4057 Thursday and after topping $1.41 earlier.
