Reuters: US Dollar Report: Euro rises vs US dollar, climbs to session high

Reuters: US Dollar Report Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Euro rises vs US dollar, climbs to session high Jun 20th 2012, 17:19 NEW YORK, June 20 | Wed Jun 20, 2012 1:19pm EDT NEW YORK, June 20 (Reuters) - The euro reversed early losses and rose to a session high versus the dollar in volatile trade on Wednesday as investors reassessed a policy announcement from the Federal Reserve. The euro rose to $1.2743 on Reuters data and was last trading up 0.3 percent at $1.2722. The Fed said it would extend "Operation Twist," an effort to depress borrowing costs by selling short-term bonds to buy longer-dated ones, a move widely expected by market participants. "The initial read of the Fed statement was somewhat less dovish than many expected because they didn't really hint at any additional QE measures," said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange in Washington. "On second look, maybe the market is thinking they are flagging some deflationary risks that we're seeing as well as having left the door wide open to another round of QE if conditions get worse," he said.

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