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01-01-1970 12:00 AM | Source: ICICI Direct Ltd
Rupee future maturing on October 27 traded flat after dropping till 82.57 on Tuesday - ICICI Direct
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* Rupee future maturing on October 27 traded flat after dropping till 82.57 on Tuesday despite weakness in domestic equity markets. Further, a drop in the US dollar supported the rupee

* The US dollar slipped nearly 1.00% below the 111 mark, a level not seen in almost three weeks, on speculation that the Federal Reserve would slow the pace of interest rate hikes later this year. Further, the dollar was pressurised by a sharp drop in US 10 year’s bond yield and weaker than expected economic data from the US

* The Euro edged higher on Tuesday amid a drop in the US dollar. Further, stronger than expected economic data from the euro area supported the single currency

* The British pound hit its highest level since mid-September on Tuesday, as investor gloom over Britain's economic outlook was temporarily offset by a glimmer of optimism over Rishi Sunak taking over as Prime Minister

 

 

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