28 June 2001, 12:49  The dollar ended the day on a firm note

vs most major currencies after Wednesday's Federal Reserve Bank decision to lower rates by 25 basis points. Traders said that they were "confused" about what direction the dollar would ultimately take and had little initial conviction following the rate announcement. Currency strategists at UBS Warburg in a mid-afternoon report, said that although typical market reaction so far this year to any Fed rate cut has been to sell the dollar immediately following the announcement, the dollar has always bounced back.

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