The U.S. Dollar increased its appeal as a safe haven currency on Wednesday after the Federal Reserve announced that its will increase holdings of longer-maturity Treasuries and reinvest in mortgage securities. The move its anticipated to limit borrowing costs and boost economic growth and jobs.
The announcement by the Fed on Wednesday stated that the central bank will buy long-term treasuries and sell short term securities in order to get the economy growing again. It is hoped that the move will put downward pressure on interest rates for mortgages and make credit cheaper for consumers and business who are looking for loans.
The stimulus package was not everything that investors and economists had been hoping for though and is already being questioned by analysts as to how effective the move will actually be. U.S. Markets fell directly after the announcement was made and many fell that a selloff could be install tomorrow.
Heres how the U.S. dollar performed against some other major currencies:
EUR-USD 1.3573 -0.9407%
GBP-USD 1.5501 -1.5011%
USD-JPY 76.6520 +0.2629%
USD-CAD 1.0072 +1.4557%
USD-CHF 0.8999 +1.3703%
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