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Yields rise as ECB trims bond purchases; Wall Street gains | Reuters

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By Sinead Carew | NEW YORK NEW YORK Bond yields rose and the euro dipped on Thursday after the European Central Bank said it would slow its stimulus program from April, while Wall Street extended the previous session's gains. European stocks rose after the ECB decision to reduce the long-running bond buying program to 60 billion euros a month, from 80 billion, from April to December 2017.However, initial market reaction was tempered after ECB President Mario Draghi said it was not an outright winding-down of quantitative easing (QE), as policymakers want more evidence of a sustained pickup in inflation in Europe."Currencies are reacting more to the extension and bonds are focused on the taper," said Frances Donald, senior economist at Manulife Asset Management in Boston. The euro EUR= was last down 1.4 percent at $1.0605 after surging to $1.0875 right after the bank's statement

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