EVENING REPORT-MAY 27

Rupee stayed weak against the greenback on persistent dollar demand from banks for oil companies and other importers. Month-end dollar demand is continuously exerting pressure on rupee while supply is weak. U.S. Dollar remained on a weak against the basket of currencies tracking the record breaking crude prices and on expectation of weak data. Euro slipped from a one-month high against the dollar relinquishing earlier gains after weak German consumer sentiment figures stoked concerns that cracks in the Euro zone economy are starting to show. The GfK index of German consumer morale unexpectedly fell to 4.9 for June, indicating that sentiment is set to crumble next month as weakness in other parts .Greenback rose against sterling pushing the UK currency down nearly 0.3 percent to 1.9712. across the board after the country's main business lobby warned that the services sector is suffering, with profitability is dropping sharply. The U.S. dollar was trading slightly weaker against the yen reflecting investor concerns about record-breaking oil prices and their impact on the U.S. Economy. Australian dollar was buoyant near 25-year peaks on growing expectations that domestic interest rates would be raised in the coming months to check stubbornly high inflation