Great, Mr. Bernanke — Saving Our Dollar!

Our readers know that we have criticized our Fed chairman for being behind the curve in lowering rates too late and by too little to avoid a recession.

But most things are relative and, in this respect, Ben Bernanke looks like he is ahead of the curve, at least in terms of the competition — other central banks.

As currency values are relative, this could bode well for the dollar. If so, it may be time to cover some short dollar positions.

The Wall Street Journal headline this week led with the view that, by standing on principle, Bank of England Governor Mervyn King had played “a dangerous game.â€