IGI Logo

* US$INR futures fell gradually during most of the week as a strong rally in domestic equities pressurised the pair while a rebound in the dollar index provided some support to the pair

* The dollar index headed for its best weekly gain in three months, lifted by growing confidence that the US economic recovery will outpace its global peers. The dollar has also been supported by a rise in longer-term US treasury yields, which came as traders positioned for massive fiscal spending

* Democrats in the US Senate were poised for a marathon voting session aimed at overriding Republican opposition to President Joe Biden’s $1.9 trillion Covid-19 relief proposal

* We expect the rupee to appreciate further towards 72.70 level as stronger equities are likely to put further pressure on the pair

To Read Complete Report & Disclaimer Click Here

https://secure.icicidirect.com/Content/StaticData/Disclaimer.html

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer