The Indian rupee little changed at 70.96 pair now at 71.06 against 70.88 previous close.
Pair to tip in 70.95-71.20 range today.
Dollar/rupee opened up Monday ahead of US-China trade talk even as US President Donald Trump said his government may impose additional tariffs on Chinese goods. Trump is expected to impose additional duty on Chinese imports. Also, there is a possibility that Chinese officials get hesitant to pursue to a broad deal with the US. This caution has kept rupee gains under check. There are expectations that US President Donald Trump may postpone further tariff hikes in its upcoming meet to be held on October 10 & 11.
The yen gained slightly and the yuan slipped a tad in early Asian trade on Monday on a media report that China wants the scope of this week's trade talks and any deal with the United States to be narrow. The yuan weakened about 0.20% in offshore trade to 7.1285 yuan per dollar CNH There was no onshore trading as Monday is the last day of China's holiday break for its national day.
Sterling traded little changed at $1.2336 GBP=D4 , with uncertainties on Brexit keeping many investors on the sideline. Britain's Brexit minister said the UK is open to some flexibility on the proposed mechanism that would allow lawmakers in post-Brexit Northern Ireland to decide whether the British province remains in regulatory alignment with the European Union.
Oil prices fell on Monday, extending last week's heavy losses, with traders fearing the global economic slowdown will weigh on future oil demand growth while pegging hopes for a rebound on progress in talks this week on ending the U.S.-China trade war.
Gold advanced on Monday as markets braced for US-China trade negotiations during the week with lesser hopes of a break through following a report that Chinese official may not be as willing to bend.
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