Dollar buoyed by Bullard comments, yen sinks

The dollar rose on Tuesday after a top Federal Reserve official said the central bank's asset purchase plan should be curtailed, but analysts said the dollar would remain under pressure on views the Fed would lag other monetary authorities in tightening policy.

The dollar was up sharply versus the yen, which retreated to post-intervention lows, and was trading little changed against the euro after initially rising on comments by St. Louis Federal Reserve bank President James Bullard.

Bullard told an audience in Prague the U.S. economy was strong enough to curtail the Fed's $600 billion bond-buying program by $100 billion. more

News - March 2011