The U.S. dollar is holding steady in currency trading on the FX market against other major currencies. The greenback is stable in forex trading following Fed Chair Ben Bernanke's testimony before Congress yesterday.
In his testimony, Bernanke outlined a plan to limit the effects of inflation due to the massive amounts of cash entering the money system as a result of economic stimulus. This is referred to as an "exit plan", and it is meant to help the dollar retain some of its value, even as it floods the market.
The U.S. dollar is slightly up against the pound and the euro in forex trading, and slightly down against the yen. However, the absence of sudden moves and the stability shown by the dollar in currency trading is being taken as a good sign.
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