India Rupee Steady As Importers’ Dlr Demand Offsets Early Gains

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.

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.

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.

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