The euro gained on Wednesday in reaction to the US Federal Reserve’s decision to extend its bond purchase program known as “Operation Twist” which comprises of selling short term securities and purchasing long term securities.

Though the US dollar declined versus the euro but was up versus its major rivals as the dollar index DXY which tracks the greenback’s performance versus its major six counterparts gained to 81.567 on Wednesday as compared to 81.365 in Tuesday’s North American trading session.