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Currency Research Report: Daily Report: Forex

US Fed has cut another $10 billion in its QE bond buying program and the Fed's pace of MBS Purchase is now of $30B and Treasury Pur-chases at $35Bn. In addition, the FOMC also decided to leave its interest rate unchanged at 0.25 percent.
30 Jan 2014 | 10:11 AM

US Fed has cut another $10 billion in its QE bond buying program and the Fed's pace of MBS Purchase is now of $30B and Treasury Pur-chases at $35Bn. In addition, the FOMC also decided to leave its interest rate unchanged at 0.25 percent.

Indian rupee lost momentum after opening stronger against the greenback as investors turned jittery ahead of the US Fed’s decision on the outlook for its bond-buying stimulus.

Domestic equity markets also traded volatile ahead of the January month futures expiry tomorrow as Nifty closed at 6120.3 with a loss of 6 points.

China’s Markit/HSBC final manufacturing PMI for January dipped to 6-month low level of 49.5 from December's 50.5.

Yen extended its pullback, after Turkey stunned markets with a massive interest rate hike in an effort to stem capital flight from its economy as the Turkish lira after tumbling over 5 percent this month, the Turkish central bank surprised by lifting lending rates to 12 percent from 7.75 percent.