1051 GMT [Dow Jones] The USD/INR is trading in a narrow range ahead of
the outcome of the U.S. Federal Open Market Committee meeting. Many
players have pinned their hopes that the Fed may announce stimulus
measures like another round of quantitative easing to revive growth,
says a dealer with state-run bank. The pair is at 56.06 vs 55.95 late
Tuesday in Asia. "Traders are not entering into long positions and the
bidding is only for daily dollar needs," he says. He tips the pair to
stay in a 55.85-55.15 range for the rest of the session.
(nupur.acharya@dowjones.com)
Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com
(END) Dow Jones Newswires
June 20, 2012 06:51 ET (10:51 GMT)
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