Forex tips: The rupee appreciated by another 5 paise to 63.46 against the US dollar in the early trade today, extending its winning streak for the fourth day on continued selling of the American currency by exporters. However, the rupee slipped against dollar and hit day's low of 63.68 against dollar. Forex dealers said that apart from sustained selling of the American currency by exporters, dollar's weakness against other currencies overseas backed up the rupee at the Interbank Foreign Exchange. Furthermore, a higher opening in the domestic equity markets put the rupee on a strong footing. The local currency had gained 14 paise to close at 63.51 on Friday.
Post-UK elections Sterling falls vs dollar as investors focus on EU membership, spending cuts
Sterling fell against a broadly stronger dollar on Monday, losing some of its post-election shine as investors focused on the risks of a looming referendum on Britain's EU membership and new government spending cuts.
The pound posted its best performance in six years against the dollar in the last two weeks, surging after the pro-business Conservative party unexpectedly triumphed in Britain's parliamentary election on May 7, winning an outright majority for the first time in 23 years.
Investors had for months worried that no party would win a majority, which could have led to weeks of political uncertainty - a negative factor for sterling - until a coalition emerged. Sterling was 0.4 per cent lower on the day against the dollar at $1.5675, over a cent away from a 5-1/2-month high of $1.5815 hit last week. Against the euro, which was weaker across the board, the pound was a third of a per cent stronger at 72.575 pence.
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