Indian rupee edges lower; Fed minutes lift risk assets

Jul 10 2014, 09:29 IST
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Indian rupee seen trading at 59.62/63 against US dollar versus its Wednesday close of 59.75/76. (Reuters) Indian rupee seen trading at 59.62/63 against US dollar versus its Wednesday close of 59.75/76. (Reuters)
SummaryTraders expect the market to remain rangebound until the federal budget announcements which will start at 11 am.

Indian rupee seen trading at 59.62/63 against US dollar versus its Wednesday close of 59.75/76, tracking gains in most other Asian shares and currencies with broad losses in the dollar versus majors also hurting.

Asian equities rose and the dollar dipped on Thursday, after the U.S. Federal Reserve indicated it was not in a rush to end quantitative easing and begin hiking rates.

Traders expect the market to remain range-bound until the federal budget announcements which will start at 11 am.

Most Asian currencies trading stronger. The dollar started at one-week lows against a basket of major currencies.

Indian rupee is seen moving in a 59.50 to 59.80 range until the budget.

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