Indian Rupee continues its fall against US dollar - ZENMoney

The Indian Government Bond closed on a flat note tailing crude oil prices and with the government again voicing concern about gold imports that help widen the current account deficit.

Rupee continued its fall against US dollar on the back of a weak domestic equity markets and on continued growth concerns as investors pare back expectations of RBI rate cuts next month along with a sell-off in FII's. A fall in HSBC manufacturing PMI to 50.1, a four years low from 51 in Apri 2013 pressurised the Indian currency further.

Euro rose against US Dollar after manufacturing sector data in the US and euro zone. The US dollar fell on raising concerns about the health of the US recovery and the outlook for central bank stimulus. A European Central Bank (ECB) rate decision on Thursday would be in focus as some market participants expect an outside chance of a refinancing rate cut and this could drag the euro lower.

US Dollar fell against the Yen after the US manufacturing report prompted investors to search for safer havens. A fall in the Nikkei supported the Yen further. The dollar pared lossed after news that Japan's Prime Minister Shinzo Abe is urging a review of its public pension fund strategy.

Source : Equity Bulls

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