In other development, the Federal Reserve officials unanimously voted to keep interest rates unchanged in the target between 2.25 per cent and 2.5 per cent in the latest monetary policy review, that concluded on Wednesday. Moreover, the US Fed signalled little appetite to adjust them any time soon, citing strong job creation, ongoing economic growth, and weak inflation.
Gaurang Somaiya, Research Analyst (Currency) at Motilal Oswal Financial Services (MOFSL) says, "Market participants will be a little cautious ahead of nonfarm
payrolls number that will be released tomorrow and an uptick in job creation number could support the greenback on lower levels."
Today, "USD/INR pair is expected to quote in the range of 69.40 and 70.05-70.20," Somaiya added.
Asian shares were muted on Thursday as investors awaited fresh cues. MSCI’s broadest index of Asia-Pacific shares outside Japan was off 0.1 per cent, trading in a tight band. Australian shares slipped 0.7 per cent while New Zealand was up 0.4 per cent and South Korea’s KOSPI index added 0.1 per cent, Reuters reported.
In the overnight trade, US stocks ended lower.