Euro Risk Rise, Yen Slides Against Dollar
Share in Profit Gains, Rupee Creep Upward; flows key
The yen was on the reverse on Friday, as risk assets staged a broad recovery and investors awaited a press conference by the head of the Bank of Japan after the central bank held policy steady. The dollar attach about 0.4 per cent against the yen to buy 119.27 yen, while the euro rose about 0.3 per cent to 146.44 yen.
The center of attention still remains on broader risk yearning, the continued fall in commodity prices, in specific oil, and the varying monetary policies of the major central banks," said Sue Trinh, senior currency strategist at RBC Capital Markets in Hong Kong.
US dollar index, which tracks the greenback against a basket of six major currencies, edged up about 0.1 per cent on the day to 89.288, within perception of the Dec. 8 high of 89.550, a five-year peak.
Share in Profit Gains, Rupee Creep Upward; flows key
Today Rupee opened upward and is trading at 63.02/03 versus US dollar at 09: 47 am, led by the profit in markets. Traders expect the rupee to proceed in a range of 62.80 to 63.50 during the day against the greenback.
Funds move will remain critical for the intraday direction of the Indian unit, analysts said. Rupee was by 50 paise Earlier, the sharp single day gain in the last seven months, to end the day's trade at 63.11 against the dollar.
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