USD/INR ends at 3-week low on weak dlr, FII inflows into local stocks

The rupee settled at 69.6850 against 69.4950 at the previous close. The local unit moved in 69.60 -69.7225 per dollar band intra-day.
Dollar/rupee ended at three-week low Monday on selling by foreign banks tracking an overall weakness in the greenback and helped by FII inflows into local stocks. Few foreign banks sold dollars, although mostly remained on a hibernating mode as the US market remain closed today. The greenback is weak after a set of dismal economic data. Also, FII injected funds into local equities. Dollar/rupee ended at Rs 69.49/$1 Monday, level alst seen on May 7, 2019 compared to its previous close of Rs 69.52/$1

The euro dipped on Tuesday as investors nervous about trade tensions bought into the safe-haven dollar and fretted that political risks in Europe remain high, even though pro-Europe parties won a majority of European parliamentary seats.
The pound fell most notably yesterday and the strong showing by the Brexit Party has fuelled speculation of a shift toward a Hard Brexit departure from the EU on 31st October," MUFG analysts said, referring to the Brexit Party topping the polls in Britain at the European parliamentary election. GBP=D3 as candidates to succeed British Prime Minister Theresa May laid out some of their Brexit plans.

Gold edged away from the previous session's one-week peak on Tuesday as the dollar regained momentum as the preferred safe-haven from uncertainty over U.S.-China trade tensions, while weakness in equity markets limited losses for the metal.
Oil prices rose on Tuesday, supported by tighter global supplies that have helped to offset persistent worries that demand will be hurt by the continuing U.S.-Chinese trade conflict.

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