MW: Dollar drops vs. rivals after Fed's easing announcement
By Lisa Twaronite
SAN FRANCISCO (MarketWatch) -- The dollar dropped against major counterparts Tuesday, after the Federal Open Market Committee effectively announced a comprehensive quantitative easing policy and said it would establish a target range for the federal funds rate of zero to a quarter pecentage point. The dollar index , which tracks the greenback against six major currencies, was at 81.130, compared to 81.630 ahead of the Fed's announcement. The euro was buying $1.3891, compared with $1.3792, and the dollar was trading at 89.51 yen, compared to 90.09 yen before the central bank's decision was released.
