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Weekly Forex News February 24th 2013 FCTO: Financial markets were rocked by the Federal Open Market Committee minutes overnight as that triggered speculation that the Fed could tune or stop the open-ended third round of quantitative easing sooner than expected. The Dow Jones dropped 108 points to close below the 14000 level at 13927. Gold was shot hard and dropped to as low as 1554 today as it finally decisively took out the 1600 psychological level. The Dollar index soared through the 81 level and is now heading to the 81.46 resistance and above. In the currency markets the dollar was broadly higher overnight and the strength carried on into the Asian session today. The Sterling is particularly weak as weighed down by the Bank of England minutes released yesterday and braking through an important medium term support level. The Japanese Yen also rebounded strongly against most major currencies but USD/JPY is still stuck in range.