Rupee extended gained as oil prices stayed below $119 per barrel while a firm stock market also revived hopes of some foreign fund inflows. The dollar weakened broadly as dealers took profits from its recent gains ahead of two major interest rate decisions in Europe, and as selling in oil paused after prices hit three-month lows the previous day. The Euro was higher ahead of the European Central Bank's interest rate decision, supported by figures showing a bumper German trade surplus and anticipation the bank may release a fairly hawkish statement to accompany its decision. Yen's gains were limited after Japan's government said the economy was weakening and may have entered a recession .Meanwhile the Pound was steady ahead of the Bank of England's interest rate left its benchmark interest rate at 5.00 percent as the economy continues to show downside growth potential and prices remain inflated. The Australian dollar firmed off four-month lows finding some respite after stronger-than-expected jobs growth in July, though interest rate cuts are still expected.
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