Rupee trades weak; awaits CPI inflation data

Rupee was trading weak in early trade on weakfish sentiments across the globe. The rupee was last trading at 61.02, against a closing of 60.95 to the dollar on Tuesday.

Dealers say that the forex markets would take cues from the CPI inflation data due later today. A higher than expected CPI inflation data may see a mild reaction in the rupee in the coming days.

The rupee is likely to continue to trade in a range and might see some volatility net week ahead of the US Fed's decision to taper its QE3 programme even further. Should the US Fed decide to taper its QE3 programme more than the $10 billion, it could have some effect on the rupee, depending on the size of the taper.

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