The US dollar jumped after the Federal Reserve announced it’s going to increase purchases of
The Federal Open Market Committee left the federal funds rate at 0 to 0.25 percent range. The FOMC wrote in its statement:
The Committee intends to purchase, by the end of June 2012, $400 billion of Treasury securities with remaining maturities of 6 years to 30 years and to sell an equal amount of Treasury securities with remaining maturities of 3 years or less. This program should put downward pressure on
The expansion of the
EUR/USD fell from 1.3571 to 1.3552 as of 4:31 GMT today. GBP/USD dropped from 1.5498 to 1.5460, while USD/JPY rose from 76.44 to 76.75.
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