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2. MARKET HEADLINES
Rupee falls to near 6-month low on stock losses,
importer demand
The rupee dropped to its lowest in nearly six months on Tuesday,
dragged by late falls in local shares and import-related demand from a
large private company.
The rupee has fallen 2.9 percent so far this month against the dollar,
despite strong foreign inflows into debt and stock markets as the
dollar gains against global currencies on worries about whether the
U.S. monetary stimulus will continue.
The partially convertible rupee fell for a third straight session to close
at 55.41/42 per dollar compared with Monday's close of 55.10/11. The
rupee dropped to as much as 55.42, its lowest since Nov. 29.
Sterling falls, UK gilts rise after inflation data
Sterling fell and gilts rose on Wednesday after Britain's April inflation
rate undershot expectations.
Sterling fell to $1.5184 from $1.5212 as the data was perceived by
traders as giving incoming Bank of England chief Mark Carney
more room to ease monetary policy later in the year. The euro rose to
84.675 from 84.58 pence.
British June government bond futures extended gains by almost 20
ticks to hit a session high of 117.79 after the data, and at 0832 GMT
were trading 9 ticks up on the day at 117.69.
Swiss franc steadies above recent lows as dollar
loses steam
The Swiss franc was little changed against the euro and dollar on
Tuesday, as the greenback inched up against major currencies on
suspense Federal Reserve Chairman Ben Bernanke will reveal timings
for any reduction in bond-buying stimulus.
safe-haven currency.
The franc was virtually unchanged against the dollar to trade at 0.9695
by 0735 GMT compared to the New York close.
The franc was flat against the euro at 1.2458.
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