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WEEKLY FOREX REPORT BY EPIC RESEARCH-02 APRIL 2012
1. weekly Forex Report (02 APR 2012)
Weekly News
Rupee down 12.35 pct in 2011/12 fiscal year; gains on the day.
Euro rises, but remains vulnerable to sovereign debt worries.
Month-end, quarter-end flows weigh on dollar.
Spain budget aims to save 27 bln Euros.
Euro posts second weekly gain; Aussie stabilizes.
Weekly trends of thenext week to discuss rescue deal.
EZ finance ministers meet
market
China outlook to continue to influence currencies.
The euro rallied against the dollar and the yen after budget cuts in Spain boosted hopes
the country could stick to an austerity path, though mixed U.S. data capped some gains.
Spain presented a budget that aims to save more than 27 billion euros in 2012 through
spending cuts and course as U.S. outlook improves.
Dollar rally seen on revenue increases. Also in Europe, euro zone finance ministers
agreed to strengthen their financial firewall to contain the region's debt crisis.
Speculators increase bets against yen in latest week.
The Indian rupee suffered the worst fall in four months, shedding 3.68 percent in
March, touches 5-mth high vs dollar.
Sterling hammered by investor jitters over the impact of high global oil prices on an
economy still licking the wounds of a fierce inflation battle that has crimped growth and
Aussie rises, yen slips as regional shares climb.
widened deficits. The rupee put on a good show aided by a surge in local stocks and
dollar sales by exporters trying to cash in on the last session of the 2011/12 fiscal year.
The Australian dollar hugged a tight range versus the U.S. dollar as major currencies
trod water ahead of U.S. payrolls due data later in the day, but extended its decline
against the kiwi dollar to hit a five-month low.
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