Currency Analyst since 2010

Jan. 30: Asian session

Asian stocks fell as demand for safe havens increased on the decision of the Federal Reserve to cut monetary stimulus. In addition, final Chinese HSBC manufacturing PMI for January slipped to a 6-month low. Japanese Nikkei fell by 2.7% to the lowest levels since mid-November. MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.6%.

USD/JPY is trading in the 102.40 area after it was rejected at 103.44 yesterday. New Zealand dollar was a big loser today, falling by 50 pips to $0.8160. Kiwi came under selling pressure as the Reserve Bank of New Zealand didn’t hike rates as some investors expected. However, the RBNZ Chief Wheeler said the interest rates are expected to rise in 2014. AUD/USD is trading in a soft tone following the China PMI downward revision, but holds above the $0.8700 mark.

EUR/USD slid to $1.3644. GBP/USD edged down to $1.6550.

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