Ben Bernanke

Janet Yellen, the vice chair of the Federal Reserve, made a case for keeping interest rates low in the United States, dashing many fading hopes that there would be an interest hike sooner rather than later.

Not too long ago, forex traders were flocking to the US dollar, looking for the stability, but also considering that the greenback might see gains related to higher interest rates. With the pace of economic recovery picking up, some expected the Federal Reserve to raise rates sooner rather than later.

Risk appetite is beginning to fade today in forex trading, slowly melting away as yesterday's enthusiasm fades. Earlier, the euro saw some solid gains, but concerns about the eurozone's ability to handle the debt crisis are growing.

Euro is finding good support in forex trading today, gaining on good news out of the eurozone, as well as a bit of uncertainty out of the United States.

Earlier today, Ben Bernanke made remarks about the recent jobs trend. The trend in the United States has been toward jobs recovery.

Good news in the US is helping stocks today, but that isn't weighing on the greenback -- at least not against the euro. The good economic news out of the US is standing in contrast to disappointing news in the eurozone, and giving the dollar the upper hand.

There is just enough uncertainty in the FX market to send the euro lower today in forex trading against the US dollar. The 17-nation currency is heading lower as concerns about Greek debt remain, and as forex traders consider the United States.

Here comes the risk rally.

Recently, Fed chair Ben Bernanke has said that rates are likely to remain at the current level until the second half of 2013. However, this may no longer be the case.

Jobless claims in the U.S. are higher this week, increasing for yet another week in a row.