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5 years ago
FOREX-Euro extends gains vs dollar, hits session high
September 13, 2012 / 6:16 PM / 5 years ago

FOREX-Euro extends gains vs dollar, hits session high

NEW YORK, Sept 13 (Reuters) - The euro extended gains against the dollar on Thursday, reaching a four-month high not long after the Federal Reserve announced another aggressive stimulus program to bolter the U.S. economy.

In a significant shift in monetary policy, the Fed said it would buy $40 billion of mortgage debt per month and will continue to purchase those and other assets until the weak employment picture shows marked improvement.

The euro hit a high of $1.2984, its highest since May 9. It last traded at $1.2982, up 0.6 percent on the day, according to Reuters data.

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