The dollar reached a one-week low against the euro after Federal - TopicsExpress

The dollar reached a one-week low against the euro after Federal Reserve chairman nominee Janet Yellen said the economy and labor market are performing “far short of their potential.” The greenback dropped the most in three weeks against a basket of major peers yesterday after the Fed vice chairman said in a prepared text that the outlook must strengthen before a reduction in monetary stimulus takes place. The yen was little changed against the dollar ahead of Japan’s data today on third-quarter growth. The pound gained yesterday after the Bank of England improved its outlook for unemployment.

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