''USDINR is likely to trade on the positive note on the back of strengthening US economy and hint of earlier than expected interest rate hike by the Fed. The dollar index, a basket of six leading currencies traded against the dollar, wobbled around unchanged. It was last up 0.01 percent after briefly touching a high last seen during July 2010,'' said Sushil Finance.
''The Indian rupee ended little changed on Monday after gaining in each of the previous four sessions as investors turned more cautious a day before a preliminary survey on China's manufacturing sector. Worries about the health of China's economy have been a major drag in emerging market assets over the past week, while uncertainty also remains about the U.S. Federal Reserve's near-zero interest rate policy. Meanwhile, the rupee is also likely to remain range-bound ahead of the Reserve Bank of India's policy review on Sept. 30. Although the central bank is widely expected to keep interest rates unchanged, markets will focus on the tone of its statement,'' it added.
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