Rupee is likely to trade positive: Angel Broking

Angel Broking's report on CurrenciesCurrenciesUS Dollar IndexIn spite of the robust release of unemployment claims and pending  home sales data from the nation, the American currency fell by 0.2  percent yesterday. Reason for the sam e could be attributed to the  recent surge seen in the currency that has prompted the traders to  book profits.However, sharp losses were capped after St. Louis Federal Reserve  President James Bullard commented that a relatively tight labor  market in the U nited States may put upward pressure on inflation  thereby raising the case for higher interest rates.US Dollar Index made an intraday low of 95.93 and closed at 95.16 on Thursday.Outlook From the intra - day perspective, Rupee  is likely to  appreciate owing to positive trend seen in the Asian markets after  Brent crude prices  crossed $50 a barrel . Moreover, the  Indian government has approved  to launch  capital goods  policy  to create demand and improve exports.  This will keep the In dian markets and its currency supportive.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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