MUMBAI, Sept 4 (Reuters) - The Indian rupee is likely to open little changed on Monday after a soft U.S. jobs report reinforced expectations that the Federal Reserve will not hike interest rates anymore, but the dollar still managed to rally.
Non-deliverable forwards (NDF) indicate rupee will open at around Friday's level of 82.7150.
Following the report, futures indicated almost no chance of a September rate hike and about a 35% chance of a hike in November.
The dollar and U.S. yields initially dropped following the report but recovered later.
The dollar index reached a high of 104.26 on Friday and the 10-year U.S. Treasury yields reached 4.17%.
Persons:
Goldman Sachs, Nimesh, Eileen Soreng
Organizations:
Federal Reserve, U.S, ING Bank, Treasury, Labor, Brent, Thomson
Locations:
MUMBAI, U.S