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Wall Street advances as experts expect modest taper

FXstreet.com (San Francisco) - Wall Street advanced on Tuesday the day before the FOMC meeting as investors are expecting a modest 10-15Bn taper in the Fed's bond buying program. The Dow and the S&P 500 rose for third day and the Nasdaq finished at 13-year high.

The Dow Jones rose 34.95 points or 0.23% to finish the day at 15,529.73. The S&P 500 performed its 10 positive day in the last 11 with 7.16 pts or 0.42% daily gains to 1,704.76. The Nasdaq Composite added 27.85 pts or 0.75% to close at 13-year highs at 3,745.70.

GBP/JPY deflates below 157.70 zone

GBP/JPY was unable to sustain rally and head down at the closing of Wall Street. Price action reveals a trending range with higher lows on steady climb after 157.39 lows visit. The pair was limited by the 158.00 zone to extend inconclusive retracement.
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Session Recap: Okay Fed... here we go!

The US Dollar traded lower for second day as investors have assumed a Fed's cut of 10-15 Bn in its bond buying program. Overall, market players were reluctant to take heavy risks and majors moved sideways.
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