March 7, 2013 / 3:52 AM / 4 years ago

MARKET EYE-USD/INR gains; awaits global cues for direction

* USD/INR trading at 54.87/88 versus its previous close
of 54.7150/7250 as the risk rally in global market stalls.
* Traders now focussing on central bank meetings in Japan,
Britain and the euro zone for signs of further monetary
stimulus. 
* The pair may hold in a range of 54.75 to 55.00 for the initial
part of the day.
* Dollar demand from oil importers is likely to boost the pair.
* Most Asian currencies trading stronger compared to the dollar.
See for a snapshot.
* Local shares trading down 0.1 percent in opening
trade. 

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

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