Published on 12/12/2019 2:06:36 PM | Source: Reliance Securities Ltd

The Indian Ruppe Could likely start stronger this Thursday - Reliance Securities

Posted in Currency Report| #Currency Tips #Reliance Securities Ltd

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The Indian Ruppe Could likely start stronger this Thursday against the dollar tracking gains in Asian peers following the Federal Reserve`s monetary policy decision.
Corporate flows and the weak US Dollar could also support sentiments.

The Ruppe could likely open at around in the range of 70.70-70.75 to a dollar at opening ompared with its previous closeof 70.84. Ruppe range is 70.65-70.94.A break below 70.65 could pull the pair to 70.50.

The South Korean Won and Thai baht led Asin Currencies higher on Thursday, advancing at least 0.3% each.

Investor focus now shifts to domestic data due today with both IIP and CPI to be released after market hours.

The Dollar was lower this Thursday morning in Asian trade after the U.S. Federal Reserve`s benign inflation outlook hosed down expectations for a rate hike any time soon, pushing Treasury yields lower. US Dollar index range is 96.80-97.25.

Investors also remained on edge as Sunday`s deadline for the next round of U.S. tariffs on Chinese goods looms, and ahead of a European Central Bank (ECB) meeting and the UK election later today.


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