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How the Fed Erased 1% of the Dollar's Value in a Single Day

The strong dollar has curbed the Fed's urgency to tighten
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Look What Yellen Did to the Dollar

The Federal Reserve's policy statement knocked 1 percent off the value of the dollar on Wednesday without even directly mentioning it.

The statement and updated economic forecasts Fed officials published after their meeting sent a clear message to markets: The greenback's 24 percent surge since the end of June has complicated the Fed's plans to tighten by holding down already too-low inflation and clouding the outlook for economic growth.