• Spot rupee extended its recent losses to end lower at 94.55/56 to a dollar after opening the day at 94.37 level. The decline was primarily driven by Dollar gains abroad coupled with elevated crude oil prices weighing on Rupee sentiment. Equity markets benchmarks ended lower by 0.54 during the session today.
• DXY held onto its previous day gains at 98.65 level, as market players largely stayed on sidelines as Fed meeting started today. Fed is widely expected to leave the interest rates unchanged.
• EUR traded with minor losses at 1.1693 and GBP eased to 1.3487 with investors adopting a cautious approach ahead of upcoming ECB and BoE meetings. ECB is widely expected to consider a hawkish hold. Meanwhile, JPY declined to 159.65 as dollar remains firm. BoJ in their latest policy meeting today decided to keep the interest rates on hold, but indicated possibility of further rate hikes in the coming months.
• Important Data Releases;- US ADP Employment Change, Redbook Index, housing Price Index S&P/Case Shiller Home Price Index, Consumer Confidence, Richmond Fed Manufacturing Index

The Indian rupee opened weaker, slipping 18 paisa to 94.38 against yesterday’s closing of 94.20 levels amid elevated crude oil prices and a softer trend across Asian currencies pressured the local unit.

Globally price action remained largely range-bound with a cautious bias, as EUR/USD held near 1.17 while GBP/USD stayed under mild pressure around 1.35 ahead of ECB and BOE decisions. The Yen continued to trade weak near 159.5 despite rising intervention rhetoric, with the Bank of Japan expected to keep policy unchanged amid a fragile growth backdrop.