Angel Broking's report on CurrenciesUS DOLLAR INDEX (USD) Markets in the last week traded in a volatile manner as investors kept speculating whether or not Britain will leave EU. All the polls and initial vote count showed a major lead in ‘remain’ camp. However, the tables turned on Friday when the ‘Leave’ camp won by 51.9 percent. This prompted the traders to place fresh bets in safe - haven DX which saw a rise of 2 percent in the last week. However, investors believe that given the latest event that has caused jitters and uncertainty in the mark ets, the US Feds ambitions for two rate rises this year may be placed on hold. US Dollar Index made a weekly high of 96.70 and closed at 95.57 on Friday OUTLOOK From the intra - day perspective, Rupee is likely to depreciate as demand for safe - haven DX will rise as Britains have voted to leave the European Union which has created uncertainty in the markets.Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
