FOMC Announcement says NO to QE3? Dollar jumps against the Euro as fears subside for the USD

The dollar rose against the euro and the yen as Federal Reserve Chairman Ben S. Bernanke dashed expectations the central bank would expand stimulus measures, easing concern policies would further debase the currency.

The greenback gained from a one-week low against the euro. The Fed said after a two-day meeting that it will maintain record monetary stimulus to support a flagging economic recovery after completing a $600 billion bond-purchase program this month. There was no mention of additional versions of the program, the second round of quantitative easing.

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