Dollar closed at 68.4200 against its opening at 68.1500. Dollar ended up on bidding by oil importers for their month-end payments amid firm greenback. Crude oil prices surged, breaking through $80/barrel threshold after the US threatened to tighten economic sanctions against Iran before pulling back as the stock market sold off. The greenback surged against its major peers during Asian trades as investors await the Federal Open Market Committee (FOMC) May meeting minutes.Fed minutes could endanger the dollar's rally if the central bank hints at a dovish policy. Asian stocks slipped Wednesday after US President Donald Trump said he was "not satisfied" with the latest round of trade talks with China, with Japan leading losses in the region. Still on the issue of trade, China announced on Tuesday that it would reduce tariffs on some vehicles to 15% from as much as 25%. Tariffs on certain automotive parts would also be cut.
Sensex provisionally ends 306 point lower with 24 components in the red
INTERNATIONAL
Asian shares were mostly weak with investors cautious after U.S. President Donald Trump tempered optimism over progress made so far in trade talks between the world's two largest economic powers.
Japan's government will push back its time frame for achieving a balanced budget by five years to fiscal 2025 but set an interim target to review progress in getting the country's fiscal house in order, the newspaper reported on Wednesday.
Gold prices were little changed as the dollar held on to gains after climbing to a fresh new high this year on Monday.
Oil prices edged lower morning in Asia, as markets considered the possibility of higher output from the Organization of the Petroleum Exporting Countries (OPEC).