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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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
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