Dollar is closed at 65.0175 against its opening at 64.8500. Dollar rebounded during noon trade on report China is willing to devaluate their currency further to improve exports competency amid escalating levies been introduced by the US on Chinese goods. Adding to this, dollar remained weak as weaker-than-expected US jobs data has build expectations that Fed may not hike rate aggressively in 2018. The Reserve Bank of India late Friday hiked FPI investment limit for G-sec by 0.5% each year to 5.5% of outstanding stock of securities in 2018-19 and 6% of outstanding stock of securities in 2019-20. The greenback faltered against major currencies as investors sentiment dampened after data showed US created fewest jobs in six months, and unemployment rate surged, standing at 4.1%. Expectations were for the unemployment rate to fall to 4%. Local stocks opened flat to lower Monday tracking Asian shares amid weak global cues as trade war concerns resurfaced. Asian stocks held up early gains as investors took a sanguine view on US-China trade tensions.
Locally, investor focus will now shift to corporate earning release starting this week while they continue to eye global markets development on simmering US-China trade war fears.
BSE Sensex trades higher by nearly 200 points, while the Nifty 50 trades near 10,400.
INTERNATIONAL
Asian equities were mixed in morning trade, with trade worries continued to be key market drivers. U.S. president Trump said on Sunday that China would take down its trade barriers because it was "the right thing to do."
North Korea has told the United States for the first time that it is prepared to discuss the denuclearisation of the Korean Peninsula when North Korean leader Kim Jong Un meets President Donald Trump.
China should make better use of the country’s funds by looking to invest its large capital reserves in real assets, not United States Treasury bonds.
Oil markets stabilized after slumping around 2 percent last Friday on concerns over an intensifying trade dispute between the United States and China, as well as increased U.S. drilling activity.
Gold prices slipped as the dollar strengthened on signs of easing tensions between the United States and North Korea, although the U.S.-China trade spat continued to be a concern.