Go long 3-mth US dollar, Indian Rupee on twin deficits: Nomura

Reuters : Wed Mar 20 2013, 12:00 hrs

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* Initiate long 3-month US dollar, Indian Rupee positions as structural issues relating to India's large current account and fiscal deficits remain intact, Nomura said.

* The central bank's cautious stance on future rate cuts and the pullout of a key ally from the ruling coalition also likely to dampen market sentiment, Nomura adds.

* The investment bank says potential for further positive reform announcements and measures in the current parliamentary session ending on March 22 is low.

* Nomura also sees a risk of a further slowdown in net foreign portfolio inflows in the near-term.

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