Bernanke says too early to remove existing stimulus measures, but in Q&A period stated if economy continues to improve Fed could taper back bond purchases soon

Bernanke testifies; Fed divided when to wind back QE; IMF chides Britain; big AU bond offer; NZ$1 = US$0.806 TWI = 76.4

US Fed official dented expectations Fed will taper off its bond-buying program anytime soon; any reduction in the program is beneficial for the US$ and negative for NZ$

Fed signals watched closely; Dow at new record; OECD eeks out growth; AU coal in trouble; AU Govt hard choices; NZ$1 = US$0.816 TWI = 76.9

Japan’s Economy Minister Amari says the JPY excessive strength largely corrected

EU tackles China mobile companies, solar panel makers, oil traders; gold and silver recover; NZ$1 = US$0.818 TWI = 77.0

US$ stronger in response to US consumer sentiment hitting 6-year high; NZ$/US$ cross rate down 2.5% last week

Bernanke upbeat; US consumers confident; China's house prices rise; Aussie home loan war; China buying local electricity systems; NZ$1 = US$0.806 TWI = 76.3

Market remains more upbeat towards US$ as investors continue to anticipate a ‘tapering’ in US monetary stimulus

S&P concerned about smaller NZ banks and housing risks; US economy slowing, inflation vanishes; Japan growth shines; NZ$1 = US$0.818 TWI = 76.9