Angel Broking's report on CurrenciesCurrenciesUS Dollar IndexThe US Dollar Index fell by 0.2 percent yesterday as recent surge seen in the currency has prompted the traders to book profits. This acted as a negative factor for the DX.However, sharp losses were capped as marke ts discounted the robust release of new home sales data from the nation. Purchases of new homes surged to the highest level in April’16 since the start of 2008. Moreover, St. Louis Federal Reserve President James Bullard commented that a relatively tight l abor market in the United States may put upward pressure on inflation thereby raising the case for higher interest rates.US Dollar Index made an intraday low of 95.32 and closed at 95.34 on Wednesday.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 which will keep the Indian 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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