Moneycontrol
Oct 17, 2016 10:39 AM IST | Source: Moneycontrol.com

Buy USDINR Strategy 66.79 - 66.83; target of 67.03: Karvy

Karvy has come out with its report on currencies. According to the research firm, one can Buy USDINR Strategy 66.79 - 66.83; for the target of 67.03 with a stop loss of 66.69.

Karvy's research report on Currencies

Currencies

USDINR

US dollar index is trading at 98 . 10 , appreciating against the majors in today’s Asian session after a round of profit booking before the weekend . Retail sales rebounded on Friday but a drop in consumer sentiment led to profit booking . Yellen had little to add to the dollar movement and the overall strength of the US dollar remained intact . There is limited data from the US today and the focus would be on the overall market sentiment.

EURINR

Euro is trading at 1 . 0970 , depreciating against the US dollar and trading below the key 1 . 10 level . Euro has reflected the US dollar strength as there was limited data from the EU . Going ahead, there are a few important data to be reported this week and would decide the further direction for the shared currency . CPI data and speech from Draghi would be in focus.

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