The Indian Rupee in range against greenback, Yen hitting beyond 34 years low against dollar.

USDINR

Day Trend: - Developing reversal indication.    

Weekly Trend: - IN RANGE – upside sell.

INTRADAY RANGE – 83.55 – 83.25

Forex Market Highlights

• Japan's yen tumbles to 34-year low; US dollar gains after inflation data

• Oil prices pare gains on U.S. inflation concerns.

• Gold snaps five-week win streak, but bull run not over yet.

• Foreign automakers eager for Chinese partners at Beijing auto show

• Dollar a tad softer as markets wait for Fed.

THE YEN GAME

Latest twist in the Japanese yen's extraordinary helter-skelter slide against the dollar and other currencies.

The yen fell to a fresh 34-year low of 158.30 per dollar on Monday early Asian session after the Bank of Japan left interest rates on hold, as expected, but failed to signal any meaningful concern about the exchange rate.

With the Ministry of Finance still opting not to authorize yen-buying intervention by the BOJ, traders went in full steam. Levels that until recently had been unthinkable, like 160 per dollar or even 170, are no longer so fanciful.