Rupee lower; bunched-up dollar demand likely

Tags: Rupee, News
The rupee is trading lower at 62.03/04 vs previous close of 61.84/85, tracking negative regional stocks and FX cues.

U.S. markets were closed on Monday, so pent-up dollar demand will come up, say dealers.

"The upticks will be sold near 62.30. I am looking at a 61.70-62.30 range for the day," says a dealer with a forex firm. The Nifty was trading 0.04 percent lower.

Emerging Asian currencies trading lower vs dollar.

The yen inched down against its major counterparts in early trade on Tuesday, as investors waited to see if the Bank of Japan would hold policy steady as expected and perhaps hint at the possibility of further easing ahead.


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