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Aussie dollar hits three-year low on Fed taper

The Australian dollar Thursday fell to its lowest level against the greenback since August 2010 after the US Federal Reserve said it would scale back its stimulus programme next month. The Aussie hit a low of 88.21 US cents after Fed chairman Ben Bernanke's announcement, but has since recovered slightly to 88.37 US cents. It was trading at 89.04 US cents on Wednesday. LTG GoldRock director Andrew Barnett said the Australian dollar's fall was limited because a small tapering was largely expected, but he expects the local currency to remain under pressure.

TSX up as incoming Fed chair indicates central bank in no rush to start tapering

TORONTO - The Toronto stock market registered a solid advance Thursday as the next likely leader of the U.S. Federal Reserve made it clear the American economy will need to show more improvement before the central bank starts to withdraw economic stimulus. The S The Canadian dollar fell 0.05 of a cent to 95.53 cents US. U.S. indexes gained momentum as traders took in confirmation hearings on Janet Yellen's nomination to lead the Federal Reserve. The Dow Jones industrials were up 54.59 points to 15,876.22, the Nasdaq added 7.16 points to 3,972.74 and the S

Intertape Polymer stock soars on strong earnings, big dividend increase

TORONTO - Stock in Intertape Polymer Group Inc. (TSX:ITP) soared almost 19 per cent on Thursday in the wake of a strong earnings report and a big increase in the company's dividend. On the Toronto Stock Exchange, shares in the Montreal-based maker of paper and polyolefin packaging products rose $2.21, or 18.74 per cent. to close at $14 on heavy volume of more than 3.4 million shares.

TSX up slightly, Wall Street falls amid talk of possible end to Fed stimulus

TORONTO - North American markets were mixed Wednesday after U.S. Federal Reserve chairman Ben Bernanke said the central bank has considered ending its extraordinary stimulus program, but added that it is too soon to do it now. Indexes in Toronto and the U.S. initially surged on news that the Fed had no immediate plans to turn the tap off on its $85-billion-a-month bond buyback program. But by the end of the day, the S On Wall Street, the Dow Jones industrials index was down 80.41 points at 15,307.17. The S
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