India’s rupee dropped to an eight-week low as U.S. jobs data bolstered the case for the Federal Reserve to trim stimulus. Government bonds advanced.
U.S. payrolls rose 204,000 in October, almost twice as much as economists surveyed by Bloomberg predicted, official data showed Nov. 8. India’s currency was also pressured after the central bank cut direct dollar supplies to oil refiners and before a report tomorrow forecast to show consumer-price inflation accelerated last month.
via Bloomberg 
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