NEW YORK (CNN/Money) - A lot of Federal Reserve speakers on the docket today, including the big guy, Alan Greenspan, and currency traders will be waiting eagerly -- maybe even apprehensively -- to hear what they have to say.

Lately various Fed bank presidents have said pretty clearly that they believe the U.S. trade deficit is unsustainable, and have suggested that the dollar will fall or must fall to correct it. Mr. Greenspan's words will be especially important today, to see if he echoes those views.

If he does, traders will take it as a sign that U.S. policymakers are not just tolerating, but even actively trying to push the dollar lower.

Now bear in mind that it is the U.S. Treasury department which is given the authority to intervene in foreign exchange markets to push the dollar up or down -- not the Fed. The Fed can raise or lower interest rates, and it can jawbone. That's it. And Fed officials' comments could be viewed as merely stating the obvious, not setting a policy agenda.

But in an environment where traders are making money by selling dollars day after day, any more words from Fed officials talking about a weaker dollar will surely be taken as yet another sign to sell.  

Kathleen Hays is economics correspondent for CNN and contributes to Lou Dobbs Tonight.