Khanani & Kalia International (Pvt) Limited Weekly Market Review on Sunday (September 26, 2010).
Thus, rupee ended the currency week on positive note against the US currency. In the international market, the dollar rose against the euro for the first time in four days as a drop in U.S. stocks prompted investors to take refuge in Treasuries. The currency also strengthened as traders reduced bets that the Federal Reserve will cut its target interest rate by a half-percentage point next week after its emergency reduction on January 22. The yen appreciated against all of the other major currencies on speculation investors will sell high-yielding assets and pay back low-cost loans from Japan.