MUMBAI, - The Indian rupee weakened early on Monday weighed by the dollar's rise versus major currencies and other Asian units, with traders awaiting the domestic sharemarket open for further direction.* At 9:02 a.m. the partially convertible rupee INR=IN was at 46.53/54 per dollar, weaker than 46.40/42 at close on Friday. On Thursday, the rupee had risen as high as 46.22, its strongest since Sept. 26, 2008.
* The U.S. dollar held above recent 14-month lows against a basket of currencies on Monday as traders trimmed some of their short dollar positions on prospects that U.S. interest rates will move up earlier than expected. [USD/]
* All Asian currencies were weaker compared to the dollar. For a snapshot see [EMRG/FRX]}
* The Morgan Stanley index of Asian stocks ex-Japan .MIAPJ0000PUS was down 0.5 percent while the Nifty India stock futures SINc1 traded in Singapore were little changed, suggesting a flat to lower start to the local market. (Reporting by Swati Bhat; Editing by Prem Udayabhanu)
Reuters
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