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Rupee eases a tad ahead of U.S. Fed rate decision
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reuters india on 11 December, 2007 01:26:00
 
MUMBAI (Reuters) - The rupee trading a touch weaker on Monday as investors
cautious ahead of a U.S. Federal Reserve meeting on Tuesday, with the Reserve
Bank of India (RBI) likely to block gains from fresh capital flows in the wake
of an expected Fed rate cut.
At 12:45 p.m., the rupee at 39.41/42 per dollar, slightly weaker from the
previous close. It hit a near-decade high of 39.16 last month.
The Fed is widely expected to lower the key federal funds rate by 25 basis
points to 4.25 percent after steady November payrolls data cooled expectations
for a more aggressive cut. It has lowered rates twice since mid-September.