IGI Logo

News Box

* The rupee spiked to close above a one month high yesterday.

* The dollar fell against most of its Group-of-10 peers.

* Fed statement sounding less keen to raise rates has put pressure on the greenback.

* US stocks pared earlier gains, but hovered near all-time highs, while Treasury yields rose across the board.

* Oil rose for a third session, yesterday, as the passage of a US infrastructure bill, and Chinese exports lifted prospects of fuel demand.

OUTLOOK - USDINR

Our downside objective of 73.9 was achieved yesterday, but the momentum looks too strong to allow a pull back. Favoured view expects an initial consolidation inside 73.96-75.85 before the next directional move unfolds.

To Read Complete Report & Disclaimer Click Here

For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer 

SEBI Registration Number: INH200000345

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