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4 years ago
MARKET EYE-USD/INR likely lower; INR sentiment remains bearish
April 5, 2013 / 3:13 AM / 4 years ago

MARKET EYE-USD/INR likely lower; INR sentiment remains bearish

* USD/INR likely to open marginally lower around 54.80
vs 54.87/88 last close, tracking euro recovery versus global
dollar, says the chief dealer with a private bank.
* However, sentiment remains bearish for INR with 55 likely to
be breached in the near term, he adds.
* The Nifty India stock futures traded in Singapore down
0.47 percent, while the MSCI's Asia ex-Japan index
 1.1 percent lower. 
* Ringgit, baht up; won, Philippine peso dip. For a snapshot,
see.
* The yen slumped to a 3-1/2-year low versus the dollar on
Friday, after suffering its biggest fall since late 2008 on
Thursday, when the Bank of Japan surprised markets with a
radical campaign of monetary expansion to attack deflation.
 

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

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