Fed pledges to keep rates lower till mid-2013, markets turn positive

Source: Advanced Currency Markets | G10 Advancers and Decliners vs USD JPY 0.25 GBP -0.50 EUR -0.54 CHF -0.60 Dollar rose against most currencies as the Fed’s pledge for record low interest rates failed to convince investors that global growth will be sustained. The Fed yesterday pledged to keep its benchmark interest rate at a record low at least through mid-2013 to revive a recovery that’s “considerably slower” than anticipated. The U.S. central bank is “prepared to employ” additional tools to bolster… Read More …