FOMC: Fed extends Operation Twist through 2012

Market news

20 June 2012

FOMC: Fed extends Operation Twist through 2012

- Expects growth to remain moderate, to pick up gradually
- Inflation has declined, longer-term expectations stable
- Housing sector remains depressed
- Household spending rising at slower pace
- Business investment continues to advance
- Employment growth slowed in recent months, remains elevated
- Economy expanding moderately this year
- Voted 11-1 for Fed funds rate action

EUR/USD Euro updated daily low of $1.2636, but later went back to $1.2700, and began to rise in the region of daily high

The dollar rose against the euro after Fed statement

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