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Wednesday, November 04, 2009
Dollar Dips After Fed Keeps Rates Unchanged
By Nick Godt
MarketWatch Pulse
NEW YORK -- The dollar lost some ground against major counterparts on Wednesday, after the Federal Reserve left interest rates unchanged and made only slight changes to its monetary statement. The dollar index , which measures the U.S. unit against a basket of six major currencies, stood at 75.713 compared with 75.831 ahead of the Fed announcement. As expected, the Fed kept its target for its federal funds rate set at a range of zero to 0.25%. The central bank said it would buy $175 billion of agency debt, down from prior plans to purchase $200 billion, as there was a limited availability of the securities.
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