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Wall Street closes lower on QE tapering concerns

FXstreet.com (San Francisco) - The US stocks market closed negative on Wednesday as investors were concerned on Fed tapering QE. Bernanke's speech and FOMC minutes leave the sensation that the board is divided about what to do on bond buying. Wall Street finished the day into solid losses after retracing from fresh all time highs.

The Dow Jones declined 80.41 points or 0.52% to end the day at 15,307.17. The S&P 500 eased 13.81 points or 0.83% 1,655.35. And the Nasdaq Composite fell 38.82 points or 1.11% to 3,463.30.

USD/JPY backs away from 4 ½ year high

After rallying to a fresh 4 ½-year high, the US dollar lost momentum and pulled back from highs against the yen despite FOMC minutes showed some members were willing to taper the Fed QE program as early as June.
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Session Recap: USD advances on Bernanke speech

The Greenback traded higher on Wednesday after the Federal Reserve Chairman Ben Bernanke repeated that the QE is linked to economic data. Later, FOMC minutes showed that many members said economy must improve further before reducing the bond purchases.
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