Monday, August 10, 2015

MARKET HEADLINES- " Rupee depreciates against US dollar "

10:13 AM


Continuing its recent weakness, rupee depreciated 6 paise to 63.83 against dollar in trade today.The local unit had settled 2 paise lower at 63.77 against the greenback in the preceding session.Dollar was seen strengthening against major world currencies including euro and yen ahead of US nonfarm payrolls data scheduled later for the day. The data could further strengthen the case for the Federal Reserve to raise interest rates in September.Dollar steady before jobs data, sterling weaker Major currency markets steadied on Friday, the dollar stuck in the middle of a range it has held since March after a roller coaster week for expectations on U.S. interest rates.The day's main event will be U.S. nonfarm payrolls data at 1230 GMT. Traders said a number near the forecast 223,000 jobs was likely to encourage bets that rates will rise within months and prod the dollar towards $1.0850 per euro.The dollar fell 0.1 percent to $1.0935 against the euro but was roughly steady at 97.791 against a basket of currencies.The dollar is still higher against the euro and the yen on the week, but it has stalled over the past five monthsat $1.08 and 125 yen respectively.
 
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