The MCX-SX USDINR January futures traded weaker at 45.79 on Monday morning. Most Asian units were also weaker compared to the dollar. The BSE Sensex was at 17,567, 13 points higher. The MCX-SX USDINR January futures weakened on Friday, weighed down by the dollar`s strength versus the euro and choppy local shares. It ended at 45.78 against the dollar. The euro fell broadly pressured as concerns about the struggling Greek economy highlighted weakness in the euro zone. The rupee traditionally takes clues from the euro for its movements. The dollar, on the other hand, fell against the yen on Thursday after data showed US retail sales unexpectedly fell last month, while jobless claims rose last week. Dollar is unlikely to sustain gains beyond 46 levels, as exporters are likely to re-enter the market to exit their dollar holdings ahead of strength for the rupee in coming weeks. The rupee has climbed 2.6% since December 31 to its recent high. The 3.4% gain in the fourth quarter was the most among the 10 most-active currencies in Asia. Resistance at 45.98/46.02 to resist initially. Possibility of a move towards 46.25/30 cannot be ruled out. Dip to 45.72 to find good support, said Commtrendz Research, an independent research firm dedicated to the commodity futures and foreign exchange markets. The Dow Jones industrial average dropped 100.90 points, to end at 10,609.65. The Standard & Poor`s 500 Index fell 12.43 points to 1,136.03. The Nasdaq Composite Index lost 28.75 points to 2,287.99. Following a poor retail sales report earlier in the week, a weaker-than-expected Reuters/University of Michigan Surveys of Consumers for early January hurt equities as consumer unease grew about incomes and unemployment. US stocks slid on Friday after JPMorgan Chase & Co reported deep fourth-quarter loan losses and raised concerns about bank profits. The first round of major quarterly earnings reports this week has been mixed, leaving investors uncertain about the economy. Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.

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