Rupee trading in range, Fed eyed
US Federal Reserve may announce more bond purchases later today
Rupee was trading at 55.99/00 versus its 55.95/96 close on Tuesday, trading largely in range with thin volumes.
Most dealers awaiting outcome of crucial Federal Reserve meeting later in day, with focus on whether central bank will announce more bond purchases.
Dealers expect range-trading in USD/INR in near-term, with upsides likely to spark RBI intervention.