Fed’s Bullard: FOMC has not ditched extended period language

St Louis Fed president Bullard says the FOMC has not ditched the “extended period” language, The Fed does not want to send a signal on a specific date or time period for monetary action. He says he really can’t put a specific time period on what extended period would be. The Fed could take back more emergency measures, in time.

The buck has taken on a weaker tone across the board in late London trade. The dollar did not get the lift from news that Greece will likely trigger its aid package next week despite the dysfunctional system of many countries having to pass specific laws to fund the proposed bailout, a big hurdle. EUR/USD is up to 1.3580. 1.3595/00 is next resistance.