Fed chief Greenspan fails to give boost to US$


  • Business
  • Thursday, 21 Jul 2005

NEW YORK (AP) - Federal Reserve Chairman Alan Greenspan's first day of semi-annual testimony to Congress didn't show much of a change in the central bank's policy intentions, but it helped inspire choppy trading that eventually left the dollar little changed to lower. 

The U.S. currency initially surged on Greenspan's remarks, which set out an optimistic outlook for the economy and suggest that the Fed will continue to raise interest rates. 

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