The Indian rupee little changed at 65.10 pair now at 64.99 against 65.17 previous close.
Pair to tip in 64.85- 65.15 range today.
The Indian rupee rose against the dollar tracking gains in most other Asian currencies, as U.S. President Donald Trump’s threats to impose trade tariffs hurt the Dollar. The ruling Bharatiya Janata Party won assembly elections in the north-eastern states, further supporting the currency.
Global Currency
The dollar opened in Asia morning at a low level as fears of a global trade war led to sell-off, despite its short-lived rally last week when new Federal Reserve head Powell confirmed the tightening policy. The dollar had been trading below the 90 handle on Monday morning.
The euro clawed back earlier losses on Monday but remained prone to volatility as early counts in Italian elections pointed to stronger-than-expected results for euro-sceptic parties, with no major party blocs winning an outright majority.
The common currency found some support as Germany's Social Democrats (SPD) decisively backed another coalition with Chancellor Angela Merkel's conservatives.
Global Markets
Oil prices rose early on Monday ahead of a meeting between OPEC and U.S. shale firms in Houston, raising expectations that oil producers would discuss further how to clear a global oil glut. Oil ministers from the Organization of the Petroleum Exporting Countries (OPEC) and other global oil players are set to gather in Houston as CERA Week, the largest energy industry conference, begins on Monday
Gold prices rose early on Monday as the dollar remained pressured amid fears of a global trade war following U.S. President Donald Trump's decision to impose tariffs on imports of aluminum and steel.
