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5 years ago
MARKET EYE-USD/INR inches lower; month-end oil demand limits fall
January 29, 2013 / 3:52 AM / 5 years ago

MARKET EYE-USD/INR inches lower; month-end oil demand limits fall

* USD/INR inches lower to 53.87/88 versus its Monday's
close of 53.91/92, tracking some risk-taking seen in regional
markets, but month-end dollar demand from oil firms limits the
fall.
* Asian shares rise as recent selling draws bargain hunters, but
investors are cautious ahead of more U.S. economic reports and a
Federal Reserve policy decision later in the week that may offer
clues to the Fed's stimulus plans. 
* Traders are awaiting the central bank's monetary policy
decision due at 0530 GMT for further direction. The market
sentiment is cautious after the RBI said in its macro-report on
Monday that a sustained commitment to contain the fiscal and
current account deficits was needed to create room for monetary
easing. 

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

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