Reuters: US Dollar Report: FOREX-Dollar edges higher after Fed announcement

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FOREX-Dollar edges higher after Fed announcement Jun 20th 2012, 16:45 NEW YORK, June 20 | Wed Jun 20, 2012 12:45pm EDT NEW YORK, June 20 (Reuters) - The dollar rose against the euro and hit a session high on Wednesday after the Federal Reserve said it was extending its Operation Twist bond-buying program. The euro fell as low as $1.2640 after the Fed announcement, compared with $1.2689 earlier. It was last at $1.2642, down 0.3 percent on the day. "The Fed move to extend the Operation Twist program is conservative and wary," said Joseph Trevisani, chief market strategist at Worldwide Markets, Woodcliff Lake in New Jersey. "The central bank is signaling its concern for the economic future, both American and European, without unduly damaging the present by weakening the dollar." The dollar also gained further versus the yen and last traded at 79.51, up 0.7 percent, compared with 79.41 earlier.

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