Below is the Views On The market sentiments are hinged on to the US fiscal stimulus negotiations By Mr. Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services
"The market sentiments are hinged on to the US fiscal stimulus negotiations. There is a potential for a stimulus bill but at the same time there is a lot of caution on the back of it. The subdued dollar index is keeping Asian currencies including rupee positive. The election event volatility is yet to begin and the USDINR spot is respecting the strong support of 73. Until it trades above that, prices will remain in between 73-73.60. Only a fall below 73 may drag prices towards 72.75, keeping 73.60 strong resistance."
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