NEWS / Foreign Exchange

The Dollar position improved against the majors ahead of the inflation data

??? The Rupee stayed range bound intraday, but ended weaker getting supported at 17 levels, even though there was some Dollar selling in the market. The USD/INR pair ended at 41.19 from 41.09 earlier.

??? The 6-month and 1-year forward premium was at 6.06% and 4.85% as compared to 6.80% and 5.12% previously.

??? The Dollar position improved against the majors ahead of the inflation data that might signal renewed inflationary pressures and hence postpone a likely Fed rate cut. USD/JPY was at 119.7 from 119.32 on Friday. EUR/USD was at 1.3612 from 1. 3645 on Friday and GBP/USD was at 1.9934 from 2.00 on Friday. *

*These levels are taken at 17.30 IST.