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4 years ago
MARKET EYE-USD/INR largely steady after early fall; good demand seen
August 5, 2013 / 7:34 AM / 4 years ago

MARKET EYE-USD/INR largely steady after early fall; good demand seen

* USD/INR seen stuck in a tight range after an early
fall, currently trading at 60.80/81 versus its Friday's close of
61.10/11.  
* Traders say good dollar selling by foreign banks and a large
state-run bank hurting the pair demand from importers,
particularly oil firms limiting a sharper fall.
* U.S. employers slowed their pace of hiring in July to lower
than expected although the jobless rate fell, a pair of mixed
signals that could make the Federal Reserve more cautious over
scaling back its bond-buying programme. 
* Traders expect the pair to hold in a 60.60 to 61.10 range
during the rest of the session.

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

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