Rupee future maturing on October 27 traded flat after dropping till 82.57 on Tuesday - ICICI Direct
* 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
To Read Complete Report & Disclaimer Click Here
Please refer disclaimer at https://secure.icicidirect.com/Content/StaticData/Disclaimer.html
SEBI Registration number INZ000183631
Above views are of the author and not of the website kindly read disclaimer
Tag News
EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
More News
USDINR closed 18 paise higher at 73.37 yesterday - Geojit Financial