USD/INR ends down on FII inflows, easing trade tension

The rupee settled at 70.0250 against 70.3350 at the previous close. The local unit moved in 69.99 -70.32 per dollar band intra-day.
USD/INR ends down on FII inflows, easing trade tension. Dollar/INR ended down for the third straight day Thursday on FII inflows into local stocks amid easing trade tensions. There was FII inflows into local equities. Foreign banks sold on behalf of overseas investors injecting funds into equity markets. Also some corporate flows were there. Trade tension eased after the news of Trump's delay in auto tariff imposition. Dollar/rupee ended at Rs 70.0250/$1 Thursday compared to previous close of Rs 70.3350/$1.

The euro edged higher against the dollar and sterling on Thursday as the threat of U.S. tariffs on autos was pushed back, though the rise was capped by unease about this weekend's European parliamentary elections. The single currency was up 0.1% at $1.1209 late gains in the previous session after U.S. officials said President Donald Trump was expected to delay implementing tariffs on cars and parts by up to six months.
The government has said parliament will hold its first debate and vote on the bill, which will enact Prime Minister Theresa May's Brexit deal, in the week beginning June 3. The bill itself could be published as soon as next week however. "The bill will be introduced asap to give colleagues the chance to consider the provisions within it.

Gold slipped on Thursday, pressured by technical selling after repeatedly failing to breach $1,300 this week, though U.S. sanctions on Chinese telecoms company Huawei dented risk appetite and limited bullion's losses.
Oil prices rose on Thursday for a third day running as fears of supply disruption amid heightened tensions in the Middle East overshadowed swelling U.S. crude inventories.

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