Capitalgrow Updates :USDINR Apr may trade in 62.70-62.80 range

The rupee ended flat against the dollar, as a strengthening dollar eroded rupee gains triggered by Moody’s raising the country’s ratings outlook.

 The Indian currency ended the day on flat note at 62.24 The dollar index against six major currencies ended at 98.97, up 0.93% from the previous close of 98.06

The Indian Rupee mildly depreciated by 0.2 percent yesterday owing to strength in the US Dollar Index. However, sharp losses were cushioned as Moody’s Investors Service raised India’s credit rating outlook to positive from stable. Also, rally in the domestic equities coupled with dollar selling by the exporter and banks acted as positive factors. The currency touched an intraday low of 62.14 and closed at 62.30 on Thursday.

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EUR/USD moves lower, as Fed offers hints on delayed rate hike

The euro fell slightly against the dollar on Wednesday after the minutes from the Federal Reserve's March meeting signified that the U.S. central bank could be placing more emphasis on the strength of its volatile currency than the timing of a potential interest-rate hike.

EUR/USD fell to a session-low 1.0777 ahead of the release of the minutes in U.S. afternoon trading, before closing at 1.0798. On Monday

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Dollar slides against rivals before Fed meeting minutes

The dollar was broadly lower against a basket of other major currencies on Wednesday, as demand for the greenback weakened ahead of the minutes of the Federal Reserve's latest policy meeting.

Market participants were eyeing the Fed's upcoming meeting minutes for indications on the central bank's next policy moves after Friday's downbeat jobs data fuelled uncertainty over the timing of a rate hike.

The Labor Department reported Friday that the U.S. economy added 126,000 new jobs in March, less than half of February’s gain and the smallest increase since December 2013.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.66% to 97.60.

EUR/USD climbed 0.50% to 1.0869, even as data showed that retail sales in the euro zone fell 0.2% in February, in line with market expectations.

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The Australian dollar surged on Tuesday after the central bank held rates at a record low 2.25% and even as it signalled more cuts were possible.

At today's meeting the Board judged that it was appropriate to hold interest rates steady for the time being. Further easing of policy may be appropriate over the period ahead, in order to foster sustainable growth in demand and inflation consistent with the target," Governor Glenn Stevens said in a statement.

"The Board will continue to assess the case for such action at forthcoming meetings."

AUD/USD traded at 0.7674, up 1.07%, while USD/JPY changed hands at 119.59, up 0.04%. EUR/USD traded at 1.0934, up 0.11%.

The US Dollar Index, which measures the dollar against a basket of six major currencies, was quoted at 97.25, up 0.04%.

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