The single currency has once again found a ceiling at $1.50, currently trading slightly lower despite strong risk appetite

The single currency posted gains against a broadly weaker dollar yesterday, buoyed by a rally in risk appetite and the words of Ben Bernanke.

• The dollar weakened against most of its major counterparts as Japan's economy expanded in the third quarter at the fastest pace in more than two years, encouraging demand for higher-yielding assets.
  
• Japan's gross domestic product rose at an annual 4.8%, Cabinet Office figures showed yesterday. It was the second straight advance after the nation's deepest postwar recession.
  
• Strong US equities and data showing that retail sales rose more than economists predicted suggested improvement in the US economy and emboldened investors to move towards riskier assets and away from the relative safe-haven of the greenback.
  
• In the evening, the dollar pared its losses after Federal Reserve Chairman Ben Bernanke gave reassurances that the central bank is committed to a strong currency but failed to convince investors that the US would take action to shore up the greenback.
  
• In trading this morning, the dollar has made hesitant gains, buoyed by rising risk aversion due to sagging Asian stock markets, with Japan's Nikkei 225 closing down 0.6%.