Indian rupee may give up its yesterday`s advance:
``Indian rupee may give up its yesterday`s advance as against the dollar following the Fed`s policy statement that helped the dollar to rally overnight. With the start of Asian session, Euro continues to slip against the dollar as it had strengthened broadly against its all major counterparts after the Fed offered a nod to expectations that it would continue with its stimulus plan, leading to stronger growth for the US economy. Fed`s policy statement warned of `insufficient` economic growth and signaled low interest rate for an extended period. However US treasuries sank and DJIA rises to 2-year closing highs on a strong retail sales report and firm commitment from the Fed to support the economy. However, as traders are in mood to unwind their positions as the year comes to an end, the movement had been very choppy. Expected range for the day is 44.90-45.20 ,`` notes brokerage house Anagram.
``Indian rupee shall start the day marginally lower against the US dollar on the back drop of continued profit taking in euro and other risk sensitive currencies after China reported growth slowdown in 3Q while industrial activity remained largely resilient.,`` said the broking house Edelweiss. It further said the following: