Rupee lower; market to be flows driven
Reuters Market Eye - Rupee opens lower, in line with weakness in most Asian FX as U.S. fiscal impasse looms, dealer says. The pair at 55.07/08 versus 54.95/96 Monday close.
"The market being illiquid it won't trade on fundamentals with flows dominating," says foreign bank dealer, who expects the rupee to trade in 54.95-55.35 band in the session.
Most Asian currencies including rupiah, peso, Sing dollar trading softer.
The Dollar Index trading at 79.703, up 0.09 pct, after it rose as high as 79.780 on Tuesday.
The yen sank to a 20-month low in Asian trading on Wednesday, as Shinzo Abe prepared to assume Japan's helm with a mandate to weaken its currency and push for more drastic monetary and fiscal stimulus.
(Reporting by Subhadip Sircar)
- Tweet this
- Share this
- Digg this
- Malaysian plane still missing; questions over false IDs
- Australia's Wesfarmers plans A$1.12 billion insurance spinoff - report
- UPDATE 6-Libya threatens to bomb N.Korean tanker if it ships oil from rebel port
- Michigan woman dead for six years found only after money runs out
- WRAPUP 3-Malaysia Airlines plane missing at sea off Vietnam, presumed crashed
PLANE GOES MISSING
A Malaysia Airlines flight carrying 227 passengers and 12 crew was presumed to have crashed off the Vietnamese coast on Saturday, and European officials said two people on board were using false identities. Full Article