Dollar holds on to gains after Fed report
Published: February 21, 2013
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NEW YORK (AP) — The dollar is holding on to most of its gains after the Federal Reserve signaled that it's considering slowing or ending its efforts to support the economy.
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Some of the Fed's policymakers fear that the bank's bond-buying program could cause inflation. If the Fed curtails the program, it could lead to higher U.S. interest rates and a stronger dollar.
The dollar rose against the euro in morning trading in New York. It was also higher against most other currencies.
The British pound recovered from a 2½-year low and the Japanese yen climbed.
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