20th March 2014
The dollar has advanced in forex trading markets for a second successive session today (March 20th), with investors reacting to the Federal Reserve's latest policy announcement.
Following a two-day gathering of policymakers - the first to be chaired by Janet Yellen since she succeeded Ben Bernanke - the US central bank discarded the jobless rate threshold for borrowing costs.
This is in addition to introducing a further taper of its quantitative easing programme, reducing its monthly asset purchases to $55 billion, as anticipated.
Instead of the unemployment forward guidance, Ms Yellen said the bank will look to lift interest rates around six months after it brings an end to QE - something expected to occur before the end of the year.
With traders continuing to weigh the new Fed chief's comments, the dollar advanced by 0.3 per cent against the euro, which was trading at $1.3795 as of 10:15 GMT.
The greenback also added 0.1 per cent to 102.45 yen, extending yesterday's 0.9 per cent advance against the Japanese currency.
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