The Federal Reserve announced Operation Twist at a scale of $400 billion by the end of June 2012. This means no additional dollar printing - no QE3. They also fell short from announcing more measures such as lower rates on excessive rates.
The initial reaction is a stronger dollar. EUR/USD is down but slightly rebounds. The market is still digesting. This might change later, although the probability is not very high. USD/JPY is on the rise, moving to 76.50, away from the intervention zone.
Read the rest of the article [B][I][URL="http://www.forexcrunch.com/bernanke-announces-400-billion-twist-dollar-rises/"]Bernanke Announces $400 Billion Twist - Dollar Rises[/URL][/I][/B]
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