ForexLive North American wrap: Bernanke does the QE3 dance

Fed introduces QE3, $40B per month on MBS, no limit Full text of FOMC decision, compared to prior Fed cuts 2013 GDP forecast, hikes for 2013 Bernanke says MBS purchases to continue until 'sustained' improvement DJ: IMF official says Greece will need another bailout Initial jobless claims 382K vs 370K exp, Hurricane Isaac blamed Largest one-month rise in PPI in three years Jordan talks up EUR/CHF peg, goes a bit crazy Germany's Schaeuble: Spain would be daft to ask for full bailout Russia hikes rates US August budget deficit $191B vs $151B exp Oil touches highest since April, close up $1.09 to $98.10 Gold at $1765, highest since March USD/CAD hits 13-month low, below 0.9700 EUR/USD touches 1.3002 S&P 500 up 1.6% to a four-year high of 1460 Always bet on Bernanke printing, he never lets you down. EUR/USD jumped above 1.2950 initially and then slumped back to 1.2900 as the idiot commentators on TV tried to sort out what happened. It took 30 minutes but the dollar sellers clearly won out and EUR/USD rallied but has been unable to hold above 1.3000.