Forex tips : The rupee gained back 8 paise from initial losses and hit day's high of 63.85 against the American currency, on fresh selling of dollars by banks and exporters following a strong opening in the equity market. The rupee resumed lower at 64.03 against its last closing level of 63.92 at the Interbank Foreign Exchange Market and slid further to 64.05 on initial dollar demand from banks and importers amid capital outflows. in the overseas market and sharp fall in the equity market. However, it shaped up immediately to 63.87 at 1100 hours on dollar sale by banks and exporters on hopes of resumption of foreign capital inflows in view of a strong equity market.
Yen soars after BoJ's Kuroda says currency already "very weak"
The yen surged to a two-week high against the dollar on Wednesday, after the head of the Bank of Japan said the currency was unlikely to fall further because it was already "very weak", prompting investors to trim huge bets against the yen. The comments from Haruhiko Kuroda, made to a lower house financial affairs committee, lifted the yen from last week's 13-year trough of 125.86 per dollar. Hit by the yen's advance and a euro boosted by rapidly rising European bond yields, the dollar slipped to a three-week low against a basket of major currencies of 94.330. In the minutes after Kuroda's comments, the dollar fell more than two yen to as low 122.50, its weakest since May 27. It was last down 1.3 percent at 122.82, putting it on track for its biggest daily loss against the yen for six months.
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