Dollar closed at 63.8825 against its opening at 64.0700.Dollar in the offshore market ended down during European trades Wednesday on selling by exporters amid overseas fund inflows into local stocks.Dollar opened at three-week high on buying by oil importers as crude prices hovered around three-year high. Dollar seen little changed as investors preferred to stay on sidelines on lack of fresh triggers amid no significant data release from the world's largest economy. The greenback traded subdued against its major peers as economic data remained on a light side. Investors await the release of industrial production and homebuilder confidence data and Fed Beige book due for later today. Growth activity in the New York manufacturing sector slowed in the month of January, reported the Federal Reserve Bank of New York on Tuesday. The New York Fed said its general business conditions index dropped to 17.7 in January from an upwardly revised 19.6 in December. Asian stocks traded marginally lower tracking the close of US markets amid profit-booking by investors after record high levels.
On the Japan economic front, the value of core machine orders surged a seasonally adjusted 5.7% on month in November, said the Cabinet Office on Wednesday - coming in at Y899.2 billion.
BSE Sensex closed higher by 313.73 points at 35,084.78, while the Nifty 50 rose 88.10 points to close at 10,788.55.
INTERNATIONAL
Asian stocks stepped back from a record high as the region’s resource shares were hit by falling oil and commodity prices while digital currencies tumbled on worries about tighter regulations.
Oil prices gave away earlier gains as analysts warned of a downward correction after prices have gained more than 13 percent over the past month.
Japanese orders for machinery surged to their highest level in a decade in November, in a sign businesses may finally be responding to policymakers’ efforts to get companies to spend their massive cash piles to spur economic growth.
Bitcoin extended its sharp tumble of the past 24 hours, skidding more than seven percent on Wednesday in a rapid downturn in fortunes as investors were spooked by fears regulators might clamp down on an asset whose value has skyrocketed in the past year.
Gold prices gained in Asia with a weaker dolalr helping demand for the precious metal priced int he US currency.