Dollar flat against euro after Fed announcement

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Associated Press

Posted on December 13, 2012 at 1:01 PM

Updated Thursday, Dec 13 at 1:02 PM

NEW YORK (AP) — The dollar is little changed against the euro, a day after the Federal Reserve said it would keep interest rates super-low until the unemployment rate falls below 6.5 percent.

The euro slipped to $1.3072 in afternoon trading from $1.3079 late Wednesday.

The Fed's announcement on Wednesday was a shift from its previous policy, which was to keep interest rates low until at least the middle of 2015.

The Fed also said Wednesday it will keep spending $85 billion a month on bond purchases to drive down long-term borrowing costs and stimulate economic growth.

The British pound fell to $1.6103 from $1.6157. The dollar rose to 83.49 Japanese yen from 83.17 Japanese yen.

The dollar fell to 0.9248 Swiss franc from 0.9258 Swiss franc.

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