Dollar rises after release of Fed survey

AP News
Posted: Jan 16, 2013 2:41 PM

NEW YORK (AP) — The dollar is rising against most major currencies after a Federal Reserve survey found that the U.S. economy improved at the end of 2012.

The report, known as the Beige Book, reports on the economic conditions of the Fed's 12 regional banking districts. The Fed said 12 of its regional banking districts reported "modest or moderate" growth in the final weeks of 2012.

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The euro fell to $1.3289 in afternoon trading from $1.3378. The British pound fell to $1.5990 from $1.6082.

The dollar rose to 88.47 Japanese yen from 89.41 Japanese yen.