<div>The rupee rises to 62.41/42 versus its previous close of 62.57/58.<br /><br />Gained in the rupee come after the RBI said late on Wednesday (5 February) that the government had cancelled its previously deferred bond sale of Rs 150 billion.<br /><br />The cancellation showed the government is confident of meeting its fiscal deficit target of 4.8 per cent of GDP for 2013/14, traders said.<br /><br />The rupee could strengthen further in the near-term to around 61.80 to a dollar, trader says, as the government's cash position is set to improve further due to gains from the ongoing mobile spectrum auction.<br /><br />Globally, the dollar struggles against Asian currencies ahead of key event risks, namely the ECB's policy decision due later on Thursday and US jobs data on Friday.<br /><br />(Reuters)<br /> </div>
