MARKET HEADLINES Rupee falls most in 4 months on global dollarstrengthThe rupee posted its biggest single-day fall in four months on Friday,as the dollars strength against global currencies and demand from oiland gold importers offset gains in domestic shares that have beendriven by strong foreign flows.The immediate resistance for USD/INR is 54.75, followed bypsychological resistance of 55.00 and good support around 54.15-20.The partially convertible rupee closed at 54.80/81 per dollar, 1percent below its 54.25/26 close on Thursday. The unit dropped to asmuch as 54.8050 during the session, its weakest since April 8. Sterling hits near 4-year high against yenSterling rose to a near four-year high against a weaker yen on Friday,with the pound drawing support from pick-up in activity in the Britisheconomy that has lessened chances of more monetary easing in thenear term.Against the euro, sterling was flat at 84.35 pence , while against abroadly firmer dollar it was marginally lower on the day at $1.5410. Yuan ends weaker on global dollar rally, uptrendstill seen intactChinas yuan ended slightly lower on Friday, drifting from its all-timehigh hit in the previous session, after the central bank set its officialmidpoint weaker to reflect a rally in the dollar index overnight, traderssaid.Spot yuan closed at 6.1417 against the dollar, slipping from 6.1309 atthe close on Thursday. The PBOC fixed its midpoint at 6.2016 beforetrade began, weaker than Thursdays all-time high midpoint of 6.1925.Guided by a series of record high midpoints, the yuan changed handsat as high as 6.1307 per dollar in intraday trading on Thursday, itshighest level since China established the domestic foreign exchangemarket in 1994.
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