The Indian rupee fell slightly on Wednesday, retreating from a one-month high hit earlier as a sharp fall in local shares and good dollar demand from oil importers offset corporate greenback sales and a lift from stronger Asian currencies. Although the rupee rose to as high as 59.96 earlier in the session, its highest since April 9, on the back of a large corporate dollar sale, traders said sentiment remains cautious ahead of the outcome of the national elections on May 16, while exit polls will start to be disclosed on Monday. The partially convertible rupee closed at 60.135/145 per dollar compared with its previous close of 60.11/12.
Today’s Headlines
1) Pound Climbs to Nine-Week High Against Euro before BOE Decision.
2) Poland Holds Rate at Record Low as Ukraine Woes Threaten Growth.
3) Yen Advances to Three-Week High as Stocks Slump; Kiwi Declines.
4) Dollar Falls to Lowest Since October on Lower Yields.
Find full report here: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf
Today’s Headlines
1) Pound Climbs to Nine-Week High Against Euro before BOE Decision.
2) Poland Holds Rate at Record Low as Ukraine Woes Threaten Growth.
3) Yen Advances to Three-Week High as Stocks Slump; Kiwi Declines.
4) Dollar Falls to Lowest Since October on Lower Yields.
Find full report here: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf
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