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News Link • Currencies

Dollar Falls Before Fed Considers Added Monetary Stimulus

•, By Allison Bennett
 The U.S. currency fell versus the euro and the yen before the Federal Reserve starts a policy meeting tomorrow amid forecasts it will expand bond-buying plans. Japan’s currency touched the highest in almost two weeks versus the euro afterItaly’s Prime Minister Mario Monti said he intends to resign. Mexico’s peso advanced after a report showed exports increased 13 percent from a year earlier.

“You’re starting to see a slight divergence appear in thecurrency markets, as the Chinese data remained quite favorable,” said Nick Bennenbroek, head of currency strategy atWells Fargo & Co. in New York. “Despite what is happening in Italy, markets are still relatively calm. People are looking ahead to the Federal Reserve this week, which should be an event that is positive for risk and negative for the dollar.”

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