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Euro jumps to 2 1/2 year high vs. dollar after Fed leaves rates unchanged
The dollar fell on Wednesday, touching its lowest level in more than a year against a basket of currencies after the release of the Federal Reserve's policy statement following its July meeting. The Federal Open Market Committee announced no changes to monetary policy, as expected. Policymakers said, however, that the U.S. central bank would begin implementing balance sheet normalization "relatively soon." That marked a change from the committee's previous statement that it would begin to reduce its $4.5 trillion bond holdings "this year."