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2022-01-17 MONDAY

The dollar clung to a late week bounce in Asian Market opening trades today, as investors braced for January\'s U.S. Federal Reserve meeting and raised bets it will chart a year ahead holding several rate hikes, while China surprised analysts with a benchmark cut. The dollar was 0.2% higher at 114.45 yen, about 0.8% above a Friday low. It also edged about 0.1% firmer on the euro to $1.1403. Elsewhere a month-long rally for sterling has petered out around its 200-day moving average. It held at $1.3669, but analysts say it could resume gains if inflation data makes the case for higher interest rates. Friday\'s moves suggest that the interest rate driver for dollar strength is not dead and buried. The Fed meets Jan. 25-26 and is not expected to move rates, but there is a growing drumbeat of hawkish comments coming from within and outside the central bank. One thing we must note is we\'ve had a hawkish twist out of every Fed meeting since June last year. TODAY THE NEW YORK FOREX MARKET IS CLOSED FOR MARTIN LUTHER DAY (JUNIOR) The Indian rupee opened marginally weaker by 03 paise at 74.18/19 against its previous session’s close of 74.15/16 and is expected to trade between 73.90 – 74.30 band today.
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INR Rates

Symbol   Bid  ASK
USD76.085 76.095
GBP101.24631 101.27674
EUR86.1967 86.22713
JPY0.66994 0.67012
CHF82.84517 82.88126
AUD54.46925 54.48447
SGD55.71544 55.74401
CAD59.44141 59.45999
NZD51.45629 51.48672
*Closing Rates on : 2021-12-17

Stock Indices

IndexPointsChange
BSE Sensex61324.37101.34
S&P CNX Nifty18309.854.05
NASDAQ15611.594115.977
HangSeng24218.03-165.29
DJ IA31097.9756.84
DAX15942.859.56
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