Diplomacy
Chinese Premier Li Keqiang seeks trust in India as border issue continues to irk
Chinese Premier Li Keqiang is seeking to build trust with India on his first foreign trip since taking office, which comes just a few weeks after a military standoff between the Asian giants on their ill-defined border in the Himalayan mountains. Full Article | Slideshow
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Rupee edges up; RBI policy in focus
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1 of 2. A grocery shop owner counts rupees notes in Ahmedabad May 23, 2012.
Credit: Reuters/Amit Dave/Files
Reuters Market Eye - The rupee is trading at 54.78/79 versus its previous close of 54.84/86 as traders await the Reserve Bank of India's policy decision at 11.00 a.m. for direction.
Markets are broadly positioned for a status quo at the policy review but a surprise rate cut can boost shares and indirectly hurt the USD/INR.
Asian shares edge up tracking overnight gains in U.S. stocks, as fresh signs of compromise maintain a new optimism that the U.S. "fiscal cliff" budget tussle could be settled before tax hikes and spending cuts begin to bite early next year.
USD/INR is seen moving in a 54.70 to 54.90 band until the policy review.
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