Major Market Update The dollar traded 0.3 percent from a one-month low versus the euro as weaker U.S. economic indicators bolstered the argument for the Federal Reserve to delay a reduction to its bond-buying program. Canada’s dollar rallied to a one- month high after a report showed retail sales in May increased at the fastest pace in three years, fueling speculation the economy may be improving. The rupee closed slightly weaker as easing concerns about CAD after the country imposed additional curbs on gold imports were offset by good corporate dollar demand. Indian rupee forwards jumped the most in a week and offshore interest-rate swaps headed for the highest close since 2008 after the central bank tightened access to cash a week after it raised two interest rates.09935028511 The Swiss franc was steady against the dollar and the euro on Tuesday, with few catalysts seen moving the franc sharply as one third of S&P 500 companies prepare to report second quarter numbers this week.
Posted on: Wed, 24 Jul 2013 06:14:01 +0000
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