The dollar advanced in Asian trade, with the dollar index and dollar index futures adding about 0.1% each -GEPL Capital
News / Other data
* Most Asian currencies retreated on Monday, while the dollar traded near two-month highs amid uncertainty over whether the Federal Reserve would hike interest rates in June, with focus now turning to central bank meetings in India and Australia this week. The dollar advanced in Asian trade, with the dollar index and dollar index futures adding about 0.1% each. Both instruments were also close to two-month highs as data on Friday showed nonfarm payrolls jumped far more than expected in May, pointing to a robust U.S. labor market.
* Goldman Sachs (NYSE:GS) revised its Turkish lira forecast in the wake of President Tayyip Erdogan't cabinet revamp, saying it now expected the currency to weaken to 28 to the dollar in 12 months compared with a previous prediction of 22. Erdogan signalled on Saturday his newly-elected government would return to more orthodox economic policies when he named Mehmet Simsek to his cabinet to tackle Turkey's cost-of-living crisis and other strains. * The U.S. dollar rose on Friday after May's non-farm payrolls report showed employment numbers surged, while traders weighed the merits of the U.S. Federal Reserve possibly skipping a rate hike in June. The report showed that payrolls in the public and private sector increased by 339,000 in May, far outstripping the 190,000 forecast on average by economists polled by Reuters. May's jump followed a 253,000 rise in April.
* Argentina has signed a deal to renew its currency swap line with China and double the amount it can access to near $10 billion, the South American country's central bank said in a statement on Friday, a boost to its dwindling foreign currency reserves.
Data inference
* No Major Event.
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory