Updated on
Summary The dollar hit a four-month low against the euro after Federal Reserve plan.
The dollar hit a four-month low against the euro Friday, a day after the Federal Reserve said it will launch another round of bond purchases to help boost the US economy.The euro rose to $1.3117 late Friday from $1.2985 late Thursday. The euro rose as high as $1.3168 Friday, its highest point against the dollar since May 2. The euro rose about 2.5 percent against the dollar this week.The Fed said Thursday it will spend $40 billion a month to buy mortgage-backed securities for as long as it deems necessary. Those purchases push interest rates lower and can weaken the dollar.The British pound rose to $1.6223 from $1.6154.The dollar fell to 0.9274 Swiss franc from 0.9348 Swiss franc.The dollar rose to 78.30 Japanese yen from 77.45 Japanese yen and to 97.02 Canadian cents from 96.94 Canadian cents.
