Financial Times FT.com

Dollar hit on Fed’s signal of low rates

By Krishna Guha in Washington

Published: October 14 2009 21:42 | Last updated: October 15 2009 00:17

The dollar fell on Wednesday after minutes from the Federal Reserve’s last policy meeting showed that some committee members favoured increased purchases of assets such as mortgage-backed securities to speed recovery.

While the committee simply agreed to keep open the option of either expanding or reducing the purchases if the economic outlook changed, only one policymaker made the case for scaling back buying – leaving an overall doveish skew.

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