Market listens as Big Ben Chimes

Forex markets remained pretty subdued last week and frankly seem to offer little going forward at this stage.
The early part of the week was dominated by a slow slide in Equities but this was reversed sharply following comments by Federal Reserve Chairman Ben Bernanke.
Despite conceding recovery will only be at a modest pace he stated the Fed would do all it can to ensure the recovery and stands ready for further easing . These comments more than offset bad economic data and helped the Dow Jones recover almost 2%.
The biggest moves were provided by the USD/Yen which bounced from a 15 year low of 83.60 once again on speculation that there will be intervention any time soon. Prime Minister Kan continued to talk the talk on intervention and bold measures but it remains to be seen if any action is forthcoming.
I continue to believe the equity markets will hold the key to forex moves and with the jury still out on double dips we may need to see how the next months economic data pans out.