Markets cheered by FED rate outlook
1/26/2012 12:22:05 PM
TOKYO: Equities, commodities and the euro extended gains on Thursday after the U.S. Federal Reserve said it would keep interest rates low for a much longer-than-expected period, providing ample liquidity to help spur growth.
The prospect for unfavourable interest rate differentials undermined the dollar, pushing it to a five-week low against the euro as the U.S. central bank took the spotlight away from Europe's debt woes.
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