Indian Rupee may edge up against US dollar, shares eyed for cues
* Asian shares extended losses on Wednesday and investors gave the euro a wide berth after a bailout deal for Cyprus was thrown into disarray.
* The euro was pinned near four-month lows against the US dollar after Cyprus' rejection of bailout terms seemed to threaten default or even expulsion from the euro zone.
* India's central bank lowered its benchmark policy rates by 25 basis points on Tuesday for the second time this year in a bid to help revive growth in Asia's third-largest economy, but warned that the scope for further easing is limited.
* The pair is seen opening around 54.50 levels and moving in a 54.10 to 54.60 range during the session. Traders expect some selling to come in around 54.55-60 levels, preventing a much sharper rise.
* The Nifty India stock futures traded in Singapore is trading down 0.2 percent. * Asian currencies trading mixed compared to the dollar.
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