November 8, 2012 / 10:02 AM / 5 years ago

MARKET EYE-USD/INR off lows as EUR breaks key levels

* USD/INR off lows, at 54.49/51 after falling to
54.3150 during the session, versus its previous close of
54.2050/2150.
* Dealers say the sharp fall in euro to a two-month low
against dollar is driving losses in the rupee.
* "The euro has broken key support levels. So expect rupee to
trade lower. I expect the rupee to touch 54.70 to the dollar,"
says a private bank dealer.
* Euro falls to a two-month low against the dollar and a near
four-week trough against the yen on Thursday on fresh
speculation that Spain is not in a hurry not request financial
aid. 

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

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