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Euro Jumps on Greenspan Comments
Wednesday February 11, 11:17 am ET

NEW YORK (Reuters) - The dollar fell on Wednesday with the euro surging well above $1.2700 after Federal Reserve Chairman Alan Greenspan said the dollar's decline should help narrow the wide U.S. current account deficit. The Fed chief was giving a semiannual report on monetary policy to the U.S. House of Representatives' Financial Services Committee.Late morning in New York, the euro (EUR=) initially jumped to session highs around $1.2747, up about 0.4 percent on the day and steeply up from $1.2673 shortly prior to Greenspan's initial remarks. Against the yen (JPY=) the dollar slipped to 105.42 yen, from 105.62 yen shortly before Greenspan's initial remarks.