Yesterday, the Indian Rupee spot strengthened by 0.15 percent as bearish American currency post the email debacle involving Donald Trump Jr and a Russian lawyer led support to the Indian Rupee. Furthermore, persistent selling of the US Dollar by exporters and banks provided strength to the currency. Domestic markets i.e. Sensex and Nifty traded in green on account of huge foreign inflows post GST tax installation as it is seen well for the long term. Today, USDINR spot is likely to strengthen as dovish tone in the US Fed Chair’s speech shall act as a positive factor for the Indian Rupee.
Yesterday, EURINR spot fell by 0.22 percent owing to strong DXY after Trump said that his son is 'innocent' over emails about Russian campaign help. Moreover, France’s top central banker has pleaded with Germany to loosen its fiscal policy as part of a deal with his country to strengthen the Euro-zone. Today, EURINR spot is likely to trade lower.
Yesterday, GBPINR traded higher by 0.14 percent as robust release of employment data from the nation infused positive sentiments in to the markets thereby providing support to the Pound’s price trend. One of the BoE policymaker failed to address outlook for interest rates however, warned the markets that less trade with EU could hurt economy which capped sharp gains. Today, GBPINR spot is expected to trade lower.
Yesterday, JPYINR traded higher by 0.53 percent on account of the email debacle that hit the world markets. The US President’s son released a series of emails about events that transpired during a meeting with Russian lawyer Natalia Veselnitskaya in June last year. Veselnitskaya had said she had information that could prove "helpful" to the Trump presidential campaign. Today, JPYINR spot is expected to trade higher on account of dovish tone in US Fed Chair’s speech
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