MARKET EYE-USD/INR likely to extend gains; stock cues negative

Thu Apr 4, 2013 8:29am IST

* USD/INR likely to extend gains for a second session
tracking regional stock losses. The pair may open around
54.46/50 levels versus 54.43/44 close on Wednesday, according to
a dealer with a foreign bank, who expects 54.35 support for now.
* The pair likely to track global developments with Bank of
Japan, ECB outcomes awaited.
* The Nifty India stock futures traded in Singapore down
0.5 percent, while the MSCI's Asia ex-Japan index
 0.56 percent lower. 
* Won, Philippine peso, baht weaker; ringgit edges up. For a
snapshot, see.
* The yen held near one-month highs against the dollar early in
Asia on Thursday, with investors adopting a cautious stance as
they waited to see just how aggressive the Bank of Japan will be
in tackling deflation. 

 (subhadip.sircar@thomsonreuters.com/;
subhadip.sircar.thomsonreuters.com@reuters.net)

Politics