Dollar closed at 64.8900 against its opening at 64.9500. Dollar ended down for the second straight day on selling by foreign banks likely for exporters amid globally subdued greenback. Dollar also fell as better-than-expected inflation and upbeat industrial output data released after market hours Monday is attracting overseas investors into the country. Dollar remained subdued and as investors waited for US consumer price data later in the day to gauge the outlook for inflation and Federal Reserve policy. The greenback remained subdued against other major currencies as investors remained on sidelines awaiting the release of CPI data from the world's largest economy later today, which would give further clarity on the likely Fed interest rate stance in 2018. However, few traders continued to react to the lacklustre wage growth, reported last week. Weak wages may prevent Federal Reserve from hiking rates aggressively in 2018.
BSE Sensex closed lower by 61.16 points at 33,856.78, while the Nifty 50 edged up 5.45 points to close at 10,426.85.
Asian stocks stalled as Wall Street shares lost steam, while the dollar sagged on the back of declining U.S. yields.
Cryptocurrencies’ price fell as a report by the Switzerland-based Bank for International Settlements (BIS) said digital coins remain far too risky to be used as legal tender any time soon.
Gold prices were slightly lower, as investors look ahead to U.S. inflation data later in the day for clues on inflation and how fast the U.S. Federal Reserve might raise rates.
Oil prices were down morning in Asia amid continued concerns over rising U.S. output and tight supply from the Organization of the Petroleum Exporting Countries (OPEC).