Euro rises against dollar after Fed decision

US-dollars being counted at the Korea Exchange bank.
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.


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.