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Dollar Advances After Fed Signals No More Stimulus; Euro Falls on Greece
The dollar rose against most of its 16 major counterparts after Federal Reserve Chairman Ben S. Bernanke signaled yesterday that the central bank won’t add to stimulus measures that could erode the value of the currency. The euro fell versus the greenback as European Central Bank President Jean-Claude Trichet said the debt crisis threatens to infect banks. Currencies of oil-exporting countries, such as Canada’s dollar, tumbled after the International Energy Agency said its members will release oil from emergency stockpiles. The Fed’s $600 billion program of U.S. debt purchases, its second round of quantitative ... (full story)