Rupee is likely to trade negative: Angel Broking

Angel Broking's report on CurrenciesCurrenciesUS Dollar IndexThe American currency trade higher by 0.6 percent  in the last  week owing to robust release of unemployment claims data from the nation that came better than the  expected levels. This has infused some hopes in the market with respect to interest rate hike possibility in the coming sessions.However, sharp gains were capped after the  Federal Reserve Chairwoman’s speech where she hinted that recent weak US jobs  data  and uncertainty surrounding Britain’s referendum on EU membership will keep the central bank from raising interest rates  next week.US Dollar Index made a weekly high of 94. 73 and closed at  94.56 on  Friday.Outlook From the intra - day perspective, Rupee is likely to trade negative as recent lows in the DX will boost its demand which in turn will keep the Indian Rupee a bit pressurized today.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.

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