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The US dollar weakened on Wednesday ahead of the conclusion of the Federal Reserve's two-day meeting, as market players expected policy makers to reiterate a cautious stance on raising interest rates. In mid-morning New York trade, the euro saw a small surge in purchases, which one trading source ascribed to a lack of normal dollar buying by corporate clients.

The dollar fell on Tuesday, as US durable goods and home price data disappointed investors and raised worries about the economy as Federal Reserve officials began a two-day policy meeting. The greenback, while weaker against most major currencies, fared better than the Swedish crown after Sweden's central bank surprised investors by adopting a zero interest rate policy in a bid to ward off deflation. The crown fell to a four-year low versus the dollar.
The dollar held steady on Wednesday ahead of the latest guidance from the US Federal Reserve, with the Fed seen likely to wind down its bond-buying stimulus, but taking a cautious tone on raising interest rates. The Fed is all but certain to announce the end of its massive bond-buying stimulus when it wraps up a two-day policy meeting on Wednesday.
Sterling fell against the euro on Wednesday after yet another Bank of England policymaker said interest rates are likely to stay lower for longer and fresh data showed that the British housing sector was cooling down. But it rose against the dollar as investors sold the US currency before the Federal Reserve wrapped up its two-day meeting, where it is likely to end its $4 trillion quantitative easing programme and is expected to reiterate that interest rates are unlikely to rise until inflation picks up.
The dollar steadied on Wednesday as investors awaited guidance from the US Federal Reserve, expected to reiterate a cautious stance on raising interest rates when it wraps up a two-day policy meeting later in the day. In European trading the Norwegian crown slipped towards a four-month low against the euro, after data showed Norwegian unemployment surging and consumption falling, fuelling interest rate cut bets.
The Indian rupee ended slightly weaker on Wednesday as caution prevailed ahead of the outcome of the US Federal Reserve's policy meeting later in the day, although broader sentiment remained positive following continued foreign inflows. The rupee moved in a tight range for much of the session.
Interbank buy/sell rates for the taka against the dollar on Wednesday. 77.40-77.42 (previous 77.40-77.44). Call Money Rates: 07.00-08.75 percent (* Previous 06.75-08.75 percent). (* revised).
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Index Closing Chg%
Arrow DJIA 16,974.31 0.18
Arrow Nasdaq 4,549.23 0.33
Arrow S&P 1,982.30 0.14
Arrow FTSE 6,453.87 0.81
Arrow DAX 9,082.81 0.16
Arrow CAC-40 4,110.64 0.05
Arrow Nikkei 15,553.91 1.46
Arrow H.Seng 23,819.87 1.27
Arrow Sensex 27,098.17 0.81

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln