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Euro a bit higher after Fed move

Euro a bit higher after Fed move

The euro is a bit higher against the dollar following the Federal Reserve's decision to spend hundreds of billions on U.S. government bonds in a bid to boost the economy.
However, the 16-nation euro stopped short of the nine-month high of $1.4175 it hit shortly after the Fed's decision on Wednesday night to spend $600 billion through mid-2011 _ a well-telegraphed move that was in line with market expectations.
The euro bought $1.4138 in Thursday morning European trading, up from $1.4103 in New York late Wednesday. The British pound climbed to $1.6146 from $1.6107, while the dollar slipped to 81.02 Japanese yen from 81.29 yen.
The Fed's effort is aimed at lowering interest rates, which can encourage people to spend but also makes a currency less attractive for investors.


Updated : 2021-04-24 01:28 GMT+08:00