MARKET HEADLINES Rupee falls to near 6-month low on stock losses,importer demandThe rupee dropped to its lowest in nearly six months on Tuesday,dragged by late falls in local shares and import-related demand from alarge private company.The rupee has fallen 2.9 percent so far this month against the dollar,despite strong foreign inflows into debt and stock markets as thedollar gains against global currencies on worries about whether theU.S. monetary stimulus will continue.The partially convertible rupee fell for a third straight session to closeat 55.41/42 per dollar compared with Mondays close of 55.10/11. Therupee dropped to as much as 55.42, its lowest since Nov. 29. Sterling falls, UK gilts rise after inflation dataSterling fell and gilts rose on Wednesday after Britains April inflationrate undershot expectations.Sterling fell to $1.5184 from $1.5212 as the data was perceived bytraders as giving incoming Bank of England chief Mark Carneymore room to ease monetary policy later in the year. The euro rose to84.675 from 84.58 pence.British June government bond futures extended gains by almost 20ticks to hit a session high of 117.79 after the data, and at 0832 GMTwere trading 9 ticks up on the day at 117.69. Swiss franc steadies above recent lows as dollarloses steamThe Swiss franc was little changed against the euro and dollar onTuesday, as the greenback inched up against major currencies onsuspense Federal Reserve Chairman Ben Bernanke will reveal timingsfor any reduction in bond-buying stimulus.safe-haven currency.The franc was virtually unchanged against the dollar to trade at 0.9695by 0735 GMT compared to the New York close.The franc was flat against the euro at 1.2458.
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