USD-INR - Fundamental View - IIFL

- Dollar/rupee opens near one-week low Thursday amid expectations of more stimulus from Japan and tracking gains in euro

- Fall in the currency pair could however be restricted on concerns over US fiscal cliff as lawmakers meet today to fix a deal and on month-end demand for dollars from oil importers

- Dollar/rupee fluctuated in afternoon trades Thursday on month-end demand from oil importers amid custodian banks selling and overseas inflows

Cross-currencies

- Euro/dollar rose to near one-week high Thursday on optimism over a deal on US fiscal cliff as US lawmakers meet later today to possibly negotiate a deal before the end of the year

- Japan's new finance minister on Thursday urged the Bank of Japan to show a greater sense of urgency in dealing with deflation, saying that it is sapping vitality from the country's corporate sector and that it could eventually jeopardize the government's finances.

Source : Equity Bulls

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