FOREX-U.S. dollar drops as Fed, ECB comments weigh
The U.S. dollar weakened broadly Monday, hitting a six-week low against the yen after a Federal Reserve official affirmed expectations U.S. interest rates would stay low for some time. A low Fed funds rate would limit returns on many U.S. investments, prompting investors to diversify out of the currency and seek other, riskier assets with higher yields. St. Louis Federal Reserve President James Bullard said Sunday the Fed should keep alive its mortgage-related assets purchase program beyond a planned end date to help stimulate the economy. "It's a more tentative risk-seeking environment due to mixed flows into year-end central bank...
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Tags: Amp, Assets, Currency, Dollar, Ecb, Economy, Fed Funds Rate, Federal Reserve, Federal Reserve Official, Forex, Interest Rates, Investments, Investors, James Bullard, President James, Risk, X27, Year End, Yen