Market News
Rupee to face pressure as upbeat US data reignites dollar uptrend - REUTERS
MUMBAI, Jan 8 (Reuters) - The Indian rupee is likely to open weaker on Wednesday after upbeat U.S. economic data lifted U.S. bond yields, prompting the dollar to resume its uptrend.
The one-month non-deliverable forward indicated that the rupee will open at 85.80-85.81 to the U.S. dollar, compared with 85.7125 in the previous session.
The dollar index dipped during Asia trade to 108.5 after rising 0.3% on Tuesday as data showed that job openings in the U.S. grew to 8.098 million, exceeding forecasts for a 7.7 million rise, while services sector activity also accelerated.
