Indian rupee strengthened for the 4th consecutive day on Tuesday owing to the dwindling of the greenback - Geojit Financial
News Box
* Indian rupee strengthened for the 4th consecutive day on Tuesday owing to the dwindling of the greenback
* 10 Year US treasury yields rose amid the Omicron fears as investors focus on optimistic economic conditions.
* Crude oil futures rebounded after 2-day fall due to increased risk appetite in the market.
* Gold gained as US Dollar weakened amidst Omicron fears.
OUTLOOK - USDINR
The falls evolved on anticipated lines and even stretched beyond the 75.6 objective. This appears to be overdone, raising the chances of a bounce back to 75.75 or even 75.9. A close below 75.6 could however re-establish bear’s control.
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