Published by Mark Smith-HalvorsenThe dollar was close to a seven-month low against the yen in trading this morning, driven lower by dovish testimony from Federal Reserve chairman Ben Bernanke.In a statement prepared for his latest Senate Banking Committee hearing, Mr Bernanke stressed that the Fed is ready to pursue additional stimulus if the US economy weakens further, although no stipulations were offered as to what this stimulus might involve.In global forex trading, his comments were taken as evidence that the Fed will continue to take a dovish stance on interest rates for the foreseeable future, although markets were calmed by the suggestion that further stimulus is not yet needed."What Bernanke has said is essentially the same as the minutes [of the Fed's June policy meeting]. So his comments alone are unlikely to push the dollar/yen below recent trading ranges," said Yuki Sakasai, FX strategist at Barclays Capital, speaking to Reuters.While the comments encouraged more conservative forex risk management strategies, the yen rose particularly sharply among the low-yielders, adding to concern that the Bank of Japan may pursue a strategy to allow the currency depreciate.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site.