Dollar, yen drop sharply on fiscal-cliff deal

Posted by Forexsq 656 days ago (http://www.marketwatch.com)
img forexsq - The dollar and Japanese yen fell sharply as the euro rallied early Wednesday after the House of Representatives passed a bill to undo much of the fiscal cliff threatening the U.S. economy.

After trading at 79.792 late Monday in North America, the ICE dollar index DXY -0.28% had fallen to 79.460 by Wednesday afternoon in Asia.

The index, which tracks the dollar against six major rival currencies, moved as low as 79.28, as U.S. lawmakers passed a bipartisan deal undoing much of the fiscal cliff of austerity measures, which began going into effect at the start of the year. forex

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