The Fed would do this, Bernanke explains, to influence the market for foreign exchange, i.e.
FORBES: Peeking Into Ben Bernanke's Bag Of Unconventional Monetary Weapons
Years ago I worked in Germany as part of my firm's foreign exchange program.
FORBES: Magazine Article
Back to that Economics 101 course: I learned that there is a connection between the supply and demand for dollars in the foreign exchange market and the demand and supply respectively for foreign goods and services.
FORBES: QE2, Trade and Black Box Economics
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