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Dollar Drops as Fed Maintains Easing, Cites Economic Weakness

The dollar dropped to a two-month low against the currencies of major U.S. trading partners after the Federal Reserve maintained its plan to buy $600 billion in Treasuries through June to support the economy.

The greenback slid for a fourth day as the central bank said the expansion is continuing, though at a rate that has been “insufficient” to boost the job market. The euro rose earlier against the dollar as the European relief fund’s bond rose in the first day of trading.