US dollar increased marginally by 0.01% amid a decline in domestic market and surge in US treasury yields - ICICI Direct
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Rupee Outlook and Strategy
US dollar increased marginally by 0.01% amid a decline in domestic market and surge in US treasury yields. However, further upside was capped on weaker-than-expected economic data from country. US CB Consumer Confidence data showed that consumer confidence deteriorated in August 2021
Rupee future maturing on September 28 appreciated by 0.47% in yesterday’s trading session on weakness in dollar, FII inflows and optimistic domestic market sentiments
The rupee is expected to trade with a positive bias on rise in risk appetite in the global markets, weakness in dollar and FII inflows. However, sharp gains may be prevented on concerns over uptick in daily Covid-19 cases in India. Further, traders will remain cautious ahead of US jobs data for insight into the possible path of US Fed monetary policy and Opec meeting. US$INR (September) is likely to trade between at 73.0-73.40
GBPINR Strategy
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
