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Euro rises against dollar after Fed decision

Chung Sung-Jun - Getty Images

Following the Federal Reserve's decision to taper its bond buys, the dollar rose against the euro before reversing, with the euro now higher.

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The Federal Reserve started its long-awaited reduction in stimulus, cutting its monthly purchases to $75 billion a month, saying it expects to keep reducing asset buys ``in measured steps'' if economic figures continue to improve.

After an initial decline, equity markets rebounded, suggesting investors view the Fed's action as confirmation of improving economic fundamentals.

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