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Muted reaction to US Fed comments

18 July 2013 Last updated at 10:52 BST

Federal Reserve chairman Ben Bernanke has sought to reassure markets about its plans to end fiscal stimulus, in his bi-annual testimony to Congress.

Mr Bernanke said the end to easy money was not on a "preset course".

He defended the bank's transparency policy, saying "markets are beginning to understand our message and volatility has moderated".

The BBC's Samira Hussain said that his comment spurred little response from Wall Street - but that investors had received some of the "clarity" they had been seeking.

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