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Dollar Sinks, Turkey Gets Tough

Fed interest-rate plans hit the dollar and Iran reverses course - it's time for your FX Fix.

The dollar index fell sharply after the Federal Reserve vowed to keep interest rates low through 2014. [thestreet.com]

The Fed's vow sent the dollar below parityagainst the Canadian dollar. [RTT]

The euro hit a five-week high against the dollar on hopes for a Greek debt deal and prospects for low U.S. interest rates. [CNBC]

Some traders think the Australian dollar has gotten ahead of itself after a sharp rise. [FT]

Turkey's central bank tightened lira liquidity, and the lira rose. [CNBC]

Iranian President Mahmoud Ahmadinejad reversed himself and allowed interest rates to rise sharply in an effort to stop the rial's slide. [NYT]

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