The Indian rupee was headed lower against the dollar on Monday after a better-than-expected U.S. jobs report prompted investors to bet on more Federal Reserve rate increases.
Goldman Sachs's call for no rate cuts this year compares to CME futures indicating shallow rate cuts later this year.
The 2-year Treasury yield rose more in Asia trading, reaching 4.35%. It is now almost 30 bps higher from last week's low.It was quite likely that rupee could fall below 82.50 on Monday, considering the extent of the losses in Asian currencies, a currency trader at a Mumbai-based bank said. "Oil prices are a big positive for the rupee, but we doubt that will have a large impact," the trader said.** One-month non-deliverable rupee forward at 82.46; onshore one-month forward premium at 12 paise** Dollar index at 103.140** SGX Nifty nearest-month futures down 0.1% at 17,829** NSDL data shows foreign investors bought a net $118.1 mln worth of Indian bonds on Feb. 2
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