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MARKET EYE-USD/INR biased lower on upbeat regional sentiments
July 2, 2012 / 3:23 AM / 5 years ago

MARKET EYE-USD/INR biased lower on upbeat regional sentiments

* USD/INR likely to weaken for the third straight session with
upbeat sentiments across the region after eurozone agreement to
recapitalise the region's banks. Pair last closed at
55.6050/6150 to the dollar after rising 3.1 percent.
* Favourable regulatory changes for foreign investments last
week saying no retrospective rules will apply as many investors
had feared is also seen aiding. 
* USD/INR 1-month NDF at 55.97 vs 55.70-75 NY close.
* Asian stocks mixed, but MSCI's Asia ex-Japan index
 up 0.51 percent, Nifty futures in Singapore
 up 0.39 percent.
* The euro dipped on Monday, giving up a bit of ground after its
biggest one-day rally in eight months, as investors looked for
fresh reasons to extend a rally sparked by initial euphoria over
the latest European push to ease the region's debt crisis. 
 

 (archana.narayanan@thomsonreuters.com/;
archana.narayanan.thomsonreuters.com@reuters.net)

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