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Euro gains on steady US rates, Fed bond buying plan
The euro rose against the U.S. dollar on Wednesday, adding to gains after the Federal Reserve, as expected, left benchmark U.S. interest rates unchanged and said it would extend its bond-buying economic stimulus program. The Fed's program, which has also kept interest rates in a range of zero to 0.25 percent for four years, is being beefed up with a commitment to purchase $45 billion monthly in long-term U.S. Treasuries. This is in addition to buying $40 billion a month in agency mortgage-backed securities. For the first time the Fed tied its monetary policy to a specific target, saying it will keep benchmark rates ... (full story)
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