Dollar/rupee open down Friday tracking lower crude oil prices

The Indian rupee little changed at 69.76 pair now at 69.75 against 69.87 previous close.
Pair to tip in 69.60-69.95 range today.
Dollar/rupee open down Friday tracking lower crude oil prices. USD open Rs 69.76/$1 Friday compared to previous close of Rs 69.87/$1. The dollar index, which tracks the movement of the greenback against a basket of six major currencies, traded at 98.11 Friday compared to 98.13 at close of Indian market on Thursday. The index was still headed for a 0.5% gain this week, supported by weakness in peers such as the euro and sterling, and the U.S. currency's own status as a safe-haven in times of market and economic troubles.

The dollar index against a basket of six major currencies was flat at 98.106 after inching down the previous day, when it snapped two straight sessions of gains amid a continuing decline in U.S. yields. The dollar's recent gains are part of the flight-to-quality into the United States, notably the strong investor demand for Treasuries.
The euro was steady at $1.1133. The single currency was down 0.62% this week, weighed by factors including concerns over Italy's rising debt and the prospect of Trump opening up a European front in his trade war. The pound was effectively flat at $1.2612. Sterling has lost nearly 0.8% this week, as the imminent departure of Theresa May as prime minister deepened fears about a chaotic exit for Britain from the EU.

Oil prices fell on Friday and were on track for their biggest monthly fall since November as trade conflicts spread and U.S. crude output returned to record levels. U.S. West Texas Intermediate (WTI) crude futures were at $56.08 per barrel.
Gold prices rose on Friday to remain on track for their first monthly gain since January, with expectations of cuts in U.S. interest rates boosted by inflation data for the first quarter.

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