London Session - November 17, 2009 6:09 AM

EUR/USD has drifted lower from its 1.5000 overnight high aided by comments from the ECB’s Trichet and a weaker tone in stock markets. The move back to USD1.500 wiped out any evidence of the fact that Fed Chairman Bernanke broke with convention yesterday to make mention of the USD. Bernanke’s acknowledgement of the headwinds that face the economy will continue to warrant low rates for an extended period effectively snuffed out any support for the USD. Full text »