July 16, 2012 / 8:08 AM / 5 years ago

MARKET EYE-USD/INR cuts losses; domestic stocks falter

* USD/INR cuts some of its earlier losses, tracking
flat domestic equities; last trading at 55.03/04 vs 55.14/15
close on Friday.
* USD/INR had fallen to as low as 54.7650 after headline
inflation slowed to 7.25 percent in June from a year ago, which
momentarily boosted stock markets on hopes the RBI would
consider a cut in interest rates at its July 31 policy review.
 
* However, the main BSE stock index was flat on the
day, after earlier gaining as much as 0.4 percent.
* Traders cite caution as core inflation remains unchanged at
around 4.85 percent from May levels, while Infosys 
drops for a third straight day.
    

 (swati.bhat@thomsonreuters.com)

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