The Indian rupee little changed at 69.07 pair now at 69.16 against
69.16 previous close.
Pair to tip in 68.50-68.85 range today.
The Indian rupee was little changed against the dollar in early trade,
as importers’ demand for the greenback offset early gains amid
upbeat risk sentiments on optimism over the U.S.-China trade deal.
While upbeat risk sentiments had lifted the rupee in opening trade,
the gains are unlikely to sustain as importers will step up greenback
purchases, fter two volatile sessions, the rupee is expected to take a
breather and remain rangebound as traders will keep their positions
light ahead of the U.S. jobs data and weekend.
Global Currency
The dollar scaled a three-week high versus the yen on Friday, lifted
by expectations that a protracted trade dispute between the United
States and China would be resolved soon. The greenback has gained
about 0.85 percent against its safe-haven Japanese peer this week,
thanks also to factors such as strong U.S. economic data and broad
improvement in risk appetite.
The euro was steady at $1.1225 EUR= , capped firmly after data
released on Thursday showed German industrial order dropped in
February. pound was little changed at $1.3076 GBP=D3 after
shedding 0.7 percent overnight. Sterling slipped on Thursday,
snapping a three-day rising streak, as concerns rose that Britain may
be headed for a protracted Brexit delay.
Global Markets
Oil prices fell on Friday, with Brent slipping away from the $70 mark
after briefly rising above that level in the previous session, hurt by
supply concerns and worries about progress in U.S.-China trade talks.
Gold slipped on Friday, but was trading above the 10-week low
touched in the previous session, as dollar rose against the yen on signs
of progress in U.S.-China trade dispute & strong U.S. economic data.
