Rupee lower on Asian forex weakness

Tags: Rupee, News
The rupee is lower tracking weakness in Asian FX; pair at 61.96/97 versus Tuesday's

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close of 61.88/89. Dealer tips 61.70-62.20 band for the session.

The yen was on the back foot early on Wednesday with investors unwilling to take aggressive bets ahead of the outcome of the Bank of Japan policy meeting.

RBI panel suggests targeting consumer price inflation, which may mean higher interest rates may remain longer.

Tuesday saw bullish engulfing candle that gives bulls confidence.

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