RUPEE WEAK, YEN SUSPECTED INTERVENTION.

USDINR

Day Trend: - Buy on Dip   

Weekly Trend: - IN RANGE

INTRADAY RANGE – 83.55 – 83.25

Fx Market Highlights

• New Zealand Business Mood Slumps to 7-Month Low

• South Korea Industrial Output Shrinks to 5-Month Low in March

• Cocoa Slumps by 11.15%

• Platinum Gains by 3.70%

• Natural gas Surges by 6.78%

• Japanese Yen Rises by 1.40%

• Top currency gainers are Japanese Yen (1.40%), Mexican Peso (0.86%) and New Zealand Dollar (0.65%). Biggest losers are Dollar Index (-0.43%).

THE YEN GAME

The yen jumped against the dollar on Monday, with traders citing yen-buying intervention by Japanese authorities as a trigger for the bounce in a currency languishing at levels last seen over three decades ago.

The dollar tumbled to a low of 154.40 yen from as high as 160.245 earlier in the day. Banking sources said Japanese banks were seen selling dollars for yen.