Today Forex report for 23/09/2014

MARKET HEADLINES
 

Rupee edges up against dollar as Asian forex pare gains
Rupee was trading at 60.8375/8450 against dollar versus Friday's close of 60.81/82.
 
Regional currencies pare gained on caution ahead of China's preliminary PMI survey due on Tuesday. Concerns about China's economy weighed on emerging currencies last week.
 
Traders said that dollar sales from custodian banks were being offset by greenback purchases by state-owned banks.
 
Dollar sits back after record-breaking run higher
Major currencies recovered some ground against the dollar on Monday after the dollar index racked up a 10th straight week of gains, its longest winning streak since its free float in 1973.
 
Stock and currency markets were taking a breather after one of the most volatile and event-filled weeks in more than a year, but there is plenty of data and policymaker comment spread through this week for investors to get their teeth into.
 
Top of the agenda for the euro is European Central Bank President Mario Draghi's appearance in the European parliament, which follows a lukewarm take-up for the bank's latest scheme to push more money through the financial system.
 
If purchasing managers surveys on Tuesday point to more weakness in the euro zone.

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