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U.S. markets climb Wednesday

NEW YORK, March 20 (UPI) — U.S. markets swung higher Wednesday morning as investors anticipate the Federal Reserve will maintain an accommodating monetary policy.

The Fed’s Open Market Committee concludes a two day meeting with a policy announcement scheduled for Wednesday afternoon.

Investors ignored uncertainly about the $13 billion international bailout offered to Cyprus. Lawmakers in Cyprus overwhelmingly rejected the plan to tax bank accounts, which was part of the deal worked out in Brussels.

In early afternoon trading, the Dow Jones industrial average added 46.97 points, or 0.32 percent, to 14,502.79.

The Nasdaq gained 18.48 points, or 0.57 percent, to 3,247.58.

The Standard and Poor’s 500 added 8.37 points, or 0.54 percent, to 1,556.71.

Ten-year U.S. treasury bonds fell 11/32 to yield 1.944 percent.

Against the dollar, the euro was at $1.2946 from Tuesday’s $1.2883. Against the yen, the dollar was higher at 95.62 yen from 95.17 yen.

In London, the FTSE 100 index shed 0.13 percent, 8.62 points, to 6,432.70.

Copyright 2013 United Press International, Inc. (UPI).

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