Dollar closed at 64.6075 against its opening at 64.5300.Dollar closed flat as it open down as dollar remained subdued on uncertainty ahead of the successor of Federal Reserve Chair Janet Yellen despite hawkish Federal Open Market Committee outcome. The greenback remained subdued against its major peers on caution as investors awaited President Donald Trump's announcement about the next head of the Federal Reserve. Market participants expect President Trump to nominate Governor Jerome Powell as the next Fed Chair as he is a person familiar with the matter, a move likely to combine continuity on interest-rate policy with perhaps a lighter touch on financial regulation.
The candidates are Yellen, the first woman to lead the Fed, along with fellow Fed Board member Jerome Powell, former Fed governor Kevin Warsh, White House economic advisor Gary Cohn and economist John Taylor. The nomination has to be confirmed by the Senate, and then would succeed Fed Chairwoman Janet Yellen, the central bank's first female leader, whose four-year term as Fed chief expires in early February.
BSE Sensex closed lower by 27.05 points to 33,573.22, while the Nifty 50 fell 16.75 points to close at 10,423.75.
INTERNATIONAL
Asian shares touched a 10-year high on Thursday after the U.S. Federal Reserve expressed optimism about the economy, virtually cementing the case for a year-end rate hike as investors awaited the formal nomination of the next head of the central bank.
China is leaving nothing to chance during next week's visit by U.S. President Donald Trump, and will likely fortify the value of the yuan - a regular target of attack during last year's campaign for the White House.
Gold gained in Asia on Thursday with Fed view on rates seen supportive along with a weaker dollar in the short term, though investors say Friday's nonfarm payroll data will be key for direction in the coming year.
Crude oil prices gained in Asia on Thursday with sentiment still upbeat on supply and demand increasingly coming into balance globally.