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5 years ago
MARKET EYE-USD/INR extends losses on higher shares, steady euro
August 21, 2012 / 6:52 AM / 5 years ago

MARKET EYE-USD/INR extends losses on higher shares, steady euro

* USD/INR extends fall to 55.53/54 versus its previous close of
55.73/74 on tentative demand for risk assets.
* The absence of any large dollar demand from oil companies also
pressures USD/INR. Traders expect the pair to trade in a broad
range of 55.45 to 55.75 during the day.
* India's benchmark BSE index gains 0.4 percent,
tracking higher Asian shares on continued hopes the ECB will
take action to lower borrowing costs. 
* The euro holds steady but appears increasingly
vulnerable to a reversal amid doubts whether policymakers can
agree a viable plan of action by next month to take some of the
pressure off debt-stricken euro zone countries. 

 (swati.bhat@thomsonreuters.com/;
swati.bhat.thomsonreuters.com@reuters.net)

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