December 16, 2009
Fed’s Statement Fails to Fuel Dollar Rally
The U.S. Dollar erased earlier losses after the Federal Reserve released its monetary policy statement. The Dollar turned higher after trading most of the day lower after the Federal
Open Market Committee offered more detailed plans to remove excess liquidity from the financial system.
The Fed also offered commentary on the economy, saying that deterioration in the labor market is “abating.” This statement is a reaction to the decline in the unemployment rate
earlier in the …
