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Fed Breathes Life Into The Dollar

The Fed statement has helped the dollar recover some lost gound. This combined with problems that are only growing in the UK and Europe has given some hope to a dollar recvovery.

However with consumer confidence low all round recovery and avoidence of the double dip recession is by no means certain at this stage. Hoping th avoid this the US central bank said it would reinvest between $200-300m of proceeds from maturing mortgage bonds from the first $1.2 trillion QE cycle.

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