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Wall Street closes higher after the Fed reaffirms stimulus

FXstreet.com (San Francisco) - The US stocks market closed higher on Wednesday as Cyprus fear eased and the Federal Reserve lowered its unemployment forecast for the upcoming years and affirmed QE as they cut growth expectations.

The Dow Jones advances 55.91 points or 0.39% on the day to close at 14,511.73. The S&P 500 added 10.37 points or 0.67% to finish at 1,558.71. The Nasdaq Composite gained 25.09 points or 0.78% to end at 3,254.19.

Forex: USD/CAD recovers the mark of 1.0260/62

The USD/CAD has emerged out of a second trough today during US trading, after an attempt at the downside was fortified at the 1.0242 region. However in recent minutes, the cross has pared a portion of its losses, thereby lifting it up towards the 1.0260/62 level, where it resides presently. Despite this movement higher, however, the pair is still trading negatively, operating -0.14% off its opening.
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Forex: GBP/USD tests 1.5100 level

After falling around 85 pips from 1.5185 to test the 1.5100 level, the GBP/USD bounced to 1.5140 but the recovery wasn't strong enough and currently the pair is trading back at 1.5100 level where the pair remain testing the price.
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