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MARKET EYE-USD/INR likely to inch down on risk-on sentiment
August 21, 2012 / 3:31 AM / 5 years ago

MARKET EYE-USD/INR likely to inch down on risk-on sentiment

* USD/INR may open marginally lower tracking the uptick in most
Asian shares, dealers say. The pair last closed at  55.73/74,
down 0.8 percent on the week.
* USD/INR 1-month NDF closed NY trading at 56.08-13, lower than
previous 55.84-88 close.
* Dealers say the pair will be weighed down by fall in global
crude prices.
* Oil prices slipped on Monday in choppy trading as investors
worried about the European Central Bank's ability to address the
euro zone debt crisis, while tight North Sea supplies and Middle
East turmoil limited losses. 
* Shares edged up on Tuesday as investors held on to hopes the
European Central Bank will act to soothe borrowing costs, even
as officials denied a report about the shape of its planned bond
buying strategy. 
* MSCI's Asia ex-Japan was trading up 0.7
percent and Nifty futures in Singapore were down 0.18
percent.
* The euro lacked traction on Tuesday after the European Central
Bank brushed aside a media report that it was considering
setting yield thresholds for any moves to buy bonds. 

 (archana.narayanan@thomsonreuters.com; +91-22-61807244; Reuters
Messaging: archana.narayanan.thomsonreuters.com@reuters.net)

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