The rupee fell against dollar in early trade tracking weakness in euro and cuts in Asian stocks.
The rupee is currently trading at 55.68/69 level to the dollar versus Thursday’s close of 55.63/64. However, the pair is up 0.3 per cent in what has been a largely rangebound week.
Next cue to come from GDP data, due 11 a.m. A below-expectation print likely to be positive for pair in immediate trades, but will mirror equity market reaction.
Dealers may square positions ahead of Jackson Hole.
Traders cut most of bearish bets on rupee to square positions, a Reuters poll showed.
Copyright @ Thomson Reuters 2012