The Indian rupee little changed at 70.48 pair now at 70.64 against
70.4850 previous close.
Pair to tip in 70.45- 71.00 range today.
The Indian rupee was trading lower against the dollar on Monday
amid losses in most regional currencies after China’s exports and
imports recorded an unexpected decline. The rupee is struggling
between Brent crude falling below $60 a barrel and worries that
global growth worries will hurt portfolio flows While global equities
had jumped last week, it was more so on account of the dovish Fed.
Concerns on the outlook for growth very much remain.
Global Currency
The dollar rose against most of its peers on Monday, although
heightened investor expectations that the Federal Reserve will not
raise rates this year are most likely to cap the greenback's gains. Fed
Chairman Jerome Powell reiterated last week that the U.S. central
bank has the ability to be patient on monetary policy given that
inflation remains stable.
Data on Friday showed that U.S. consumer prices in December fell
for the first time in nine months in December. euro EUR= fell around
0.1 percent to $1.1460. The single currency lost 0.3 percent on
Friday after data showed that Italy, the euro zone's third- largest
economy, was at risk of recession. yen JPY= was at 108.40,
marginally stronger versus the dollar.
Global Markets
Oil prices fell by almost 1 percent on Monday, with Brent crude
slipping below $60 per barrel, after Chinese data showed weakening
imports and exports in the world's biggest trading nation and
second-largest crude oil consumer.
Gold prices climbed on Friday as the dollar fell back on expectations
the U.S. central bank may pause interest rates hikes if the U.S.
economy slows this year, while investors awaited news on progress
in the Sino-U.S. trade talks.
