Evening Report-jul 28.

Indian Rupee eased against the Greenback on expectations of sustained dollar demand from oil refiners amid steady to better trend in equity markets. The focus is on whether the RBI follows up on its 75 bps inter-meeting hikes with raising rates again at Tuesday's scheduled policy meeting.Dollar strengthened with Positive outlook on US economy after the congress passed a legislation to bolster the two big mortgage giants Fannie Mae and Freddie Mac and on a slew of encouraging US economic reports released on Friday.Greenback declined against Euro as economic outlook for Germany remains bleak as consumer confidence declined toto 2.1 the lowest level . Soaring energy prices coupled with upwards inflationary pressures have diminished consumer purchasing power. Additionally, record food prices and the U.S. housing slump has decreased demand for exports, also squeezing the economy.Greenback was steady versus the sterling, consolidating its gains .Currency tested offers at 1.9927 and was supported at 1.9842 levels for the day .U.S. dollar slipped versus the yen after better-than-feared U.S. housing and consumer sentiment data did little to change an overall view of a weak U.S. economy.Gain in some Asian markets also prompted investors to buy high yielding assets funded with loans from Japan.