DAILY FOREX REPORT FOR 21 JULY 2014

MARKET HEADLINES
 

Rupee falls as global risk aversion rises
rupee fell to its weakest in a month against the dollar, tracking lower emerging market assets after the downing of a Malaysian airlines jet at the Ukraine-Russia border sent investors scurrying to defensive assets. The rupee fell 0.7 per cent for the week, posting its biggest weekly loss since mid-June when emerging markets had reeled on worries about the prospect of civil war in Iraq. The partially convertible rupee ended at 60.28/29 per dollar, from its Thursday close of 60.18/19. The rupee fell as low as 60.46 to the dollar at one point, a level last seen on June 18. But the currency pared losses as Indian shares rose for a fourth straight session on Friday after better-than-expected earnings from Tata Consultancy ServicesBSE 2.58 % Ltd sparked a rally in IT stocks.

Yen hands back some gains as Ukraine effect cools
The euro and the dollar gained ground against the yen on Friday, recovering from a surge of money into the traditional security of the Japanese currency a day earlier due to worries over Ukraine.
The yen hit a five-month high versus the euro in Asian time as investors worried that the shooting down of a Malaysian airliner would stoke tensions between Russia and the West, potentially leading to heavier economic sanctions. The yen had handed back some of those gains as European trading began, down around 0.2 percent against both the euro and the dollar compared to Thursday's U.S. closing levels. he euro, which has suffered this week from hints that U.S. officials may yet raise interest rates earlier than markets expect next year, traded broadly flat against the dollar at $1.3532.

Research Via is a leading financial advisory provides free tips on Indian share market like equity tips, stock tips, stock options tips, bullions tips, agro tips, commodity tips, nifty tips, base metals & energy tips, comex tips, international forex tips, domestic forex tips, agri tips, commodity (mcx& ncdex) tips.