<div>The rupee is trading lower at 60.24/25 versus its previous close of 60.03/04 as the dollar strengthens against most Asian currencies, but further falls in the Indian unit seen unlikely as traders expect dollar sales from exporters during the session.<br /><br />Caution persists due to the Iraq crisis as Brent crude prices remained steady above $113 per barrel as fears of oil supply disruptions from Iraq offset the possibility of increased supply due to a thawing of relations between Iran and the West.<br /><br />Traders expect the Reserve Bank of India to step in to check any spikes in the pair. The rupee hit a near two-month high of 60.55 per dollar on Tuesday but scaled back after traders spotted dollar sales from the central bank through state-run banks.<br /><br />The US dollar held onto modest gains early on Wednesday, having risen broadly after U.S. consumer prices recorded their largest increase in more than a year in May.<br /><br />Caution also prevails ahead of the outcome of the US Federal Reserve's two-day meet that ends later in the day.<br /><br />The partially convertible rupee is seen trading in a range of 60.02 to 60.40 during the session.<br /><br />(Reuters)</div>
