Rupee opens marginally lower at 67.90 per dollar
The Indian rupee opened marginally lower by 7 paise at 67.90 per dollar on Wednesday versus 67.83 Monday. Pramit Brahmbhatt of Veracity said, "We have a positive stance on the rupee for the day as it will take cues from the positive domestic as well as global equity market." "We expect the rupee to maintain support at 68/dollar levels and resistance at 67.60/dollar for the day," he added.
Aussie rebounds as Q4 CPI comes in above expectation
The Aussie rebounded on Wednesday in Asia after consumer prices gained more than expected in the fourth quarter while investors await the results of the Federal Reserve policy meeting later in the day. AUD/USD traded at 0.7031, up 0.36%, while USD/JPY changed hands at 118.19, down 0.20%. In Australia, the MI Leading Index fell 0.3% month-on-month for January, the same pace as the previous month. Also in Australia, CPI showed a 0.4% rise quarter-on-quarter, above the 0.3% gain seen, and rose 1.7% year-on-year, also above the 1.6% expected. The trimmed mean rose 2.1% and the weighted mean gained 1.9%, both year-on-year. At the same time, the December NAB Business Confidence survey came in at plus-3, down from the previous plus-5, and the NAB Business Survey came in at plus-7, from plus-10.
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