The dollar reached its highest point in over three months, rising against major currencies on Thursday following the release of a Federal Reserve report pointing toward recovery.
The euro dropped to a 3 month low, pushed down by the S&P’s single notch deduction of Greece’s rating from A-minus to BBB-plus.
Global stock fells two percent by midday trading, with bank shares ailing after the Fed announced it would be cutting the financial supports put in place during 2008 as early as Feb 1st.
The Fed also made it clear that the target rate would remain near zero fueling the debate over the inflationary pressure on U.S. monetary policy.
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