Meanwhile, a Fed report showed economic activity was little
changed in recent weeks as employment growth moderated somewhat
and price increases appeared to slow.
"The report should not interfere too much with the market's
89% probability pricing of a 25 basis points (bps) Fed hike on
May 3," ING analysts wrote in a note.
But after the hint of a softening labour market, any big
upside jump in initial jobless claims data due later in the day
could be worth a 0.5% fall in the dollar index back to the
101.50 area, they added.
For now, the odds of another 25 bps increase in June had
risen to 30%. The U.S. manufacturing report due on Friday would
be keenly watched.
Meanwhile, minutes of the Reserve Bank of India's latest
monetary policy meeting, where rates were left unchanged at
6.50% in a surprise move, will be released after market close.
(Reporting by Anushka Trivedi; editing by Eileen Soreng)
By Anushka Trivedi
MUMBAI, April 20 (Reuters) - The Indian rupee snapped a
three-day losing streak on Thursday, as most Asian currencies
advanced against the dollar, with upcoming U.S. data releases
and Federal Reserve commentary awaited.
The rupee finished at 82.1475 per U.S. dollar
compared with 82.2250 in the previous session, having declined
about 0.45% over the past three days.
The Chinese yuan , South Korean won and the
Philippine peso rose as the dollar index lost some
steam on Thursday, having taken support from rising U.S. yields
this week.
With U.S. inflation, retail sales and labour report out of
the way, markets remain quite choppy. Traders expect the trend
to continue till the Fed meeting in May, with a focus on
commentary from central bank officials and U.S. data during the
period.
Overnight, Fed Bank of New York President John Williams said
inflation was still at problematic levels and the U.S. central
bank would act to lower it.
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