USD/INR opens down on selling by foreign banks amid weak dlr

The Indian rupee little changed at 69.4075 pair now at 69.46 against 69.5250 previous close.
Pair to tip in 69.20-69.60 range today.
Dollar/rupee opened lower on Monday on selling by foreign banks tracking a weak greenback following a dismal economic data release in the last session from the US. The dollar is weak after a set of poor economic data from the US on Friday. Foreign banks are on the sell-side. The dollar traded lower against major counterparts after a weak economic data release of Friday, pointing to slow down in economic growth in the world's biggest economy. USD/INR opened at Rs 69.40/$1 compared to previous close of Rs 69.52/$1. It then traded between Rs 69.34/$1 and Rs 69.41/$1.

The British pound ticked up 0.15% to $1.2731, having regained some ground after Prime Minister Theresa May set out a departure date, bouncing back from a 4-1/2-month low of $1.2605 set on Thursday. But the prospect of a "no deal" Brexit was fast becoming the central battle of the race among contenders to succeed May, with four of eight leadership hopefuls having said Britain must leave the EU on Oct. 31 even if this means a no-deal Brexit.
The euro held firm in early Monday trade after pro-European Union parties withstood more fragmentation than before to hold on to two-thirds of seats in the EU parliament elections, limiting gains in nationalist opponents.

Gold prices rose on Monday as fears of a protracted U.S.-China trade war hurt risk sentiment, while poor economic data from the United States bolstered bets of a U.S. Federal Reserve rate cut.
Oil prices were under pressure on Monday following their biggest drops this year the week before, as concerns the Sino-U.S. trade war could trigger a broad economic slowdown dragged, although OPEC's supply cuts provided some support.

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