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MARKET EYE-USD/INR seen lower on global risk rally
July 16, 2012 / 3:03 AM / 5 years ago

MARKET EYE-USD/INR seen lower on global risk rally

* USD/INR seen falling in early trade on Monday continuing its
fall in the previous session after China's latest growth data
allayed fears of a steeper economic slowdown in the world's
largest consumer of raw materials. Pair last closed at 55.14/15.
    * Investors are anxiously watching clues from Federal
Reserve this week on its stance over a stronger monetary policy
to support the U.S. recovery.
    * USD/INR 1-month NDF at 55.13 as against NY close at
55.00-05.
    * Asian stocks trading with cuts with MSCI's Asia ex-Japan
 index up 0.31 percent, Nifty futures in
Singapore down 0.26 percent.
    *  The euro and high-beta currencies like the Australian
dollar started trading on Monday with a spring in their step,
following a rally late last week in part on the back of
diminishing worries about China's economic health. 

 (archana.narayanan@thomsonreuters.com)

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