Forex News: The dollar gained Wednesday after oil prices declined and US stocks picked up. Comments by Federal Reserve Chairman Ben Bernanke in Congressional testimony that dollar intervention, although rare, can be justified when markets become disorderly, also gave support to the greenback, but oil and equities were the main factors in the dollar's rally. Wednesday afternoon in New York, the euro was at $1.5813 from $1.5899 late Tuesday. The dollar was at Y104.84 from Y104.74, while the euro was at Y165.76 from Y166.56, according to EBS. The U.K. pound was at $1.9981 from $2.0046, and the dollar was at CHF1.0178 from CHF1.0107 late Tuesday.
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