Dollar pared on bernanke Speech

The dollar pared its gains slightly against the euro on Wednesday after Federal Reserve chief Ben Bernanke said that the U.S. housing market was in a substantial correction.The euro jumped around 10 ticks after Bernanke's remarks to just below $1.27, before retreating to $1.2693, down 0.35 percent on the day. The dollar was little changed against the yen , trading at 118.03 yen.In a speech in Washington, Bernanke also said that apart from the housing sector, other parts of the U.S. economy remained strong.