The Indian rupee little changed at 71.26 pair now at 71.12 against
71.22 previous close.
Pair to tip in 71.00-71.35 range today.
The Indian rupee edged higher against the dollar in early trade, as
foreign banks stepped up greenback sales on behalf of their
corporate clients. However, lingering concerns over geopolitical risks
amid tensions between India and Pakistan will keep further gains
limited. Dollar sales by a private bank and a German and an
American lender, likely on behalf of their corporate clients ahead of
the month‐end, lifted the rupee
Global Currency
The dollar held above a three‐week low on Thursday as investors
remained cautious amid uncertainty over the progress in U.S.‐China
trade talks, while sterling rallied on bets that the chance of a no‐deal
Brexit was shrinking. The dollar index against a basket of six major
rivals last traded a shade lower at 96.085 .It had edged up nearly 0.2
percent for the first time in four days overnight, after brushing a
three‐week low of 95.883 earlier in that session.
The pound was flat at $1.3311 GBP=D4 . It had climbed as high as
$1.3351 overnight, ending the session almost half a percent higher
and moving further above its 200‐day moving average. Sterling has
risen about 1.5 percent against the dollar so far this month, adding
to a 2.8‐percent gain booked in January.
Global Markets
Oil prices dipped on Thursday, dragged down by weakening factory
output in China and Japan and record U.S. crude output, although
markets remained relatively well supported by supply cuts led by
producer club OPEC.
Gold prices on Thursday held near two‐week lows touched in the
previous session, as the dollar recouped losses after cautious
comments from U.S. Trade Representative Robert Lighthizer dented
investors' hopes for a closure to the tariff war with China.
