Dollar dips after Fed fails to provide taper timeline
07/28/2021 | 03:53pm EDT
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NEW YORK (Reuters) - The dollar eased on Wednesday after the U.S. Federal Reserve said the economic recovery is on track despite a rise in COVID-19 infections in a policy statement that was upbeat but did not set a timeline for tapering Fed asset purchase.
While daily U.S. COVID-19 infections have quadrupled since the last Fed meeting in June, the central bank indicated it still had faith that an ongoing vaccination drive would reduce the effect of the public health crisis on the economy and allow a robust reopening to proceed.
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