Indian Rupee continues to fall against US dollar - ZENMoney

Rupee continued the fall against US dollar due to concerns over continued foreign selling which kept the focus on how to finance the country's record current account deficit. The new signs of a slowing Chinese growth and a deepening political turmoil in Portugal pressurised the Indian currency further. A sharp selloff in equity markets also weighed on sentiments.

Euro fell against the USDollar on worries over signs of slowing growth in China and deepening political turmoil in Portugal. The Concerns over Greece's ability to fulfill the conditions of its bailout also raised the prospect of a reawakened debt crisis in the 'peripheral' countries of the euro zone. The euro was supported as Portuguese bond yields fall from highs.

Yen rose against the dollar as political wrangling in Portugal and Egypt along with a rise in the US June services sector data. The US dollar was supported by a stabilizing US labor market data. The caution ruled given looming central bank meetings in the euro zone and UK and the market so hyper sensitive to the outlook for Federal Reserve policy.

Source : Equity Bulls

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