Euro spikes to session high vs U.S. dollar on steady policy

NEW YORK Wed Jan 30, 2013 2:27pm EST

NEW YORK Jan 30 (Reuters) - The euro spiked to session highs against the U.S. dollar on Wednesday after the Federal Reserve left monetary policy unchanged with U.S. interest rates near zero and said it will continue its asset purchase program.

In mid-afternoon New York trade, the euro - already higher against the greenback - touched a session high of $1.3587 , a gain of about 0.70 percent.

In its statement, the Fed said it will continue asset purchases if the labor market outlook does not improve substantially.

FILED UNDER:
Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.