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2017-10-17 TUESDAY

The dollar edged up against its peers in the opening trades today, supported by a rise in Treasury yields following a report that U.S. President Donald Trump was favoring a policy hawk as the next head of the Federal Reserve. Treasury yields bounced from two-week lows and rose after a report yesterday that President Trump was favoring Stanford economist John Taylor, seen as more hawkish than current Chair Janet Yellen, to head the Fed. The dollar was under pressure as Treasury yields declined last week. But it was allowed to rebound as a stronger Wall Street, good U.S. data, and the report about Taylor all came into place to stop the yield decline. The euro likely holds the key to whether the dollar can remain firm. The European Central Bank is now considered less hawkish than the market had initially thought last month, pushing German bund yields lower and in turn favoring the dollar against the euro. The greenback was 0.1 percent lower at 112.070 yen, after rising 0.3 percent overnight, when it pulled away from a three-week low of 111.650, while Sterling slipped 0.1 percent to $1.3241, awaiting Bank of England Governor Mark Carney\'s comments due later in the session for potential cues.  The Indian Rupee opened weaker and with a with a gap of 05 paisa at 64.79/80 against its previous sessionís closing of 64.74/75 and is expected to trade in 64.60/65.00 ranges today
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Dollar Rupee

 
Midday Report

2017-10-17 - TUESDAY

The Indian rupee opened weaker and with a gap of 05 paisa at 64.79 against its previous sessionís close of 64.74 against the dollar in early trade, as reports the U.S. President Donald Trump is considering hawkish candidate John Taylor to lead the Federal Reserve pushed U.S. Treasury yields higher, boosting the greenback. Rise in U.S. Treasury Yields adds to broad strength in the dollar, weighing on emerging market currencies along with the rupee, however, volumes are expected to be muted in a holiday-truncated week. Mumbai forex market is closed on both Thursday and Friday for Diwali. Intraday, we expect the rupee to trade in the range of 64.75 - 65.00 today.
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INR Rates

Symbol   Bid  ASK
USD64.3275 64.3375
GBP86.80353 86.82283
EUR77.01932 77.02575
JPY0.57698 0.57714
CHF66.83377 66.86155
AUD51.462 51.47487
SGD47.69593 47.69947
CAD52.33708 52.36264
NZD46.96551 46.98481
*Closing Rates on : 2017-09-19

Stock Indices

IndexPointsChange
BSE Sensex32389.96-194.39
S&P CNX Nifty10146.55-64.3
NASDAQ6092.616-21.736
HangSeng28487.24328.15
DJ IA23163.045.44
DAX13027.6937.59
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