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Bond Shopping for

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Category: Forex

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“It appears extremely possible Greece might be getting its next tranche of aid,” Richard Franulovich, a senior foreign money strategist at Westpac Banking Corp. in New York, mentioned in a phone interview.

The dollar advanced versus the euro because the Ifo institute in Munich mentioned German business confidence dropped to the lowest degree in more than two years.

“I’m fairly impressed with the resilience of the euro,” Alan Ruskin, international head of Group-of-10 overseas-trade strategy at Deutsche Bank AG in New York, mentioned in a telephone interview. “The final time equities had been buying and selling at these type of levels, the euro was trading on the $1.26 area.”

The Fed mentioned in an announcement after a two-day policy meeting that the economy continues to be rising modestly and unemployment remains elevated.

Bond Shopping for

The central bank mentioned its bond-buying will proceed, and it maintained a pledge to carry interest rates at virtually zero until at the very least mid-2015. It also stated a program to lengthen the typical maturity of its holdings will stay in place till yr-finish, when it’s scheduled to expire. The trouble is known as Operation Twist

The greenback fell 0.7 % against the euro on Sept. 13 after Fed coverage makers introduced following their last meeting a third spherical of huge-scale asset purchases and said the shopping for would continue till the economic recovery is properly-established. Two earlier rounds of quantitative easing totaling $2.three trillion didn't breathe life into the labor market.

Sixty-eight percent of 60 economists surveyed by Bloomberg News said the Fed chairman’s third round quantitative easing will final until January 2014.

Operation Twist, a separate program, is designed to hold down borrowing prices by lengthening the common maturity of the Fed’s holdings. The central bank swaps short-term debt in its portfolio for longer-time period Treasuries.
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