May 30, 2012 / 3:02 AM / 5 years ago

MARKET EYE-USD/INR seen gaining towards 56-level

* USD/INR could gain towards 56 as risk assets fall from favour
because of fears about Spain's banking woes. The pair last
closed at 55.67/68 per dollar.	
* Traders will watch for any possible central bank intervention
around 56 levels.	
* USD/INR 1-month NDF at 56.02/12 after closing at
56.14/18 in NY trade. 	
* Asian stocks all posting losses, with the broad MSCI Asia
index ex-Japan down 1.4 percent.	
* The euro fell to a two-year low against the dollar on
Wednesday on worries about soaring Spanish bond yields, while
the Australian dollar fell after weaker-than-expected domestic
retail sales data. 	
	
	
 (subhadip.sircar@thomsonreuters.com/;
subhadip.sircar.thomsonreuters.com@reuters.net)

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