The Dollar position improved against the majors ahead of the inflation data
14:17 2007/04/30

??? 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.


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