MARKET HEADLINES
Dollar inches up as post-payrolls chill fades
The dollar was up 0.2
percent against the euro and a quarter of a percent higher against a
basket of currencies. The dollar struck a one-week low of 118.12 yen,
but by 0853 GMT it had recovered steadily to trade 0.15 percent
higher at 118.69. The euro eased to $1.1814, still well off a
nine-year trough of $1.1754 plumbed on Thursday. Italy's central bank
chief warned on Sunday the risk of
deflation in the euro zone should
not be underestimated. He said the best way to deal
with the problem
was to buy government bonds, supporting expectations the European
Central Bank will opt to do so at a meeting on Jan. 22.With the ECB
on the verge of such
outright printing of new money to shore up the
economy, an influential adviser to
Europe's top court will give his
view on Wednesday about an earlier unused bond-buying
scheme. Some
analysts believe that could at least give the bank pause for thought.
Rupee up 23 paise against dollar in early trade
Rising for the fourth straight session, the rupee gained 23 paise at 62.09 against the dollar in early trade today at the Interbank Foreign Exchange on increased selling of the US currency by exporters. Forex dealers said sustained selling of the American unit by exporters and the dollar's weakness against other currencies overseas supported the rupee, but a lower opening in domestic equity market, capped the gains. The rupee had surged by 35 paise to end at four-week high of 62.32 against the Greenback on Friday on persistent selling by participants amidst continued optimism of inflows. Meanwhile, the benchmark BSE Sensex fell by 125.30 points, or 0.45 per cent, to trade at 27,333.08 in early trade.
Rising for the fourth straight session, the rupee gained 23 paise at 62.09 against the dollar in early trade today at the Interbank Foreign Exchange on increased selling of the US currency by exporters. Forex dealers said sustained selling of the American unit by exporters and the dollar's weakness against other currencies overseas supported the rupee, but a lower opening in domestic equity market, capped the gains. The rupee had surged by 35 paise to end at four-week high of 62.32 against the Greenback on Friday on persistent selling by participants amidst continued optimism of inflows. Meanwhile, the benchmark BSE Sensex fell by 125.30 points, or 0.45 per cent, to trade at 27,333.08 in early trade.
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