Rupee extends losses as gold, crude importers buy

Reuters Market Eye - The rupee extends losses on dollar demand from crude, gold importers, say dealers. The rupee falls to 54.1850 in trade versus 53.96/97 last close, 54.12/13 current.

A state-run gas utility was also heard buying USD, dealers say.

A state-run bank dealer expects the pair to come off after demand tapers off, sees 53.90-54.20 band for session.

Technical charts show the pair may be capped at 54.30-35, the previous support on April 12.

EUR/USD may be getting toppy for a move back to 1.2960, which could underpin INR.

(Reporting by Subhadip Sircar)