The US dollar rose 0.10% yesterday despite a rise in US stocks and decline in US treasury yields - ICICI Direct
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Rupee Outlook and Strategy
• The US dollar rose 0.10% yesterday despite a rise in US stocks and decline in US treasury yields. Market sentiments improved on signs that Omicron variant would not significantly derail a global economic recovery as risk from it may not be as severe as initially feared
• Rupee future maturing on December 29 appreciated by 0.09% on rise in risk appetite in the global markets. However, further gains were prevented on FII outflows and surge in crude oil prices
• The rupee is expected to appreciate on soft dollar and optimistic global markets sentiments. Market sentiments improved on ebbing concerns over severity of Omicron variant and its impact on global economic recovery. However, sharp gains may be capped on surge in crude oil prices and consistent FII outflows. US$INR (December) is expected to trade in a range of 74.80-75.20
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
