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The US Dollar fell for another day on Wednesday after the United States Federal Reserve Bank convened and delivered mixed news. While the Fed believes that the situation is improving in the economy, it is still the policy to not only continue, but increase the purchases of mortgage backed securities. The increase puzzled investors looking for direction, it was not expected that the Fed would halt the purchases, but to continue expanding the program, albeit at a slower pace than previous months, was not anticipated.
At 10:30PM GMT, the US Dollar was off .2% versus the Euro to 1.4762, down .11% to the British Pound to 1.6376, down .4% to the New Zealand Dollar to .7214, up .4% to the Canadian Dollar to 1.0734 and up .17% to the Swiss Franc to 1.0249 after a very choppy session.
