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Jul 12, 2012, 08.23 AM IST
The rupee quickly lost its initial gains to snap a four-day rise in early trade on Wednesday, tracking a weak euro as investors positioned for a European Central Bank policy meeting on Thursday.
Traders will watch the debt limit auction to overseas investors for cues. At 9.09 a.m, the rupee was at 54.53-54.54 to a dollar, as against Tuesday's close of 54.36-54.37. It opened at 54.35 to the dollar.
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