RBI toes the line, leaving INR.....>

EMERGING MARKETS: RBI toes the line, leaving INR stable

-The Reserve Bank of India cut rates further Friday, trimming the main repo and

reverse-repo rates by 25bps, alongside expectations. The RBI's decision not to

rock the boat left USD/INR broadly stable, trading either side of the 50-dma at

70.8570. Short-end INR vols sold off following the decision.

-Elsewhere, KRW outperforms although domestic news remains the quiet. Korean

markets were closed Thursday, with KRW having to play catch-up slightly.

Nonetheless, USD/KRW struck the lowest levels since Sep24, narrowing the gap

with the 100-dma support at 1189.91.

-Outside of the US payrolls report, Russian inflation data for September is also

due.