Rupee is likely to trade positive: Angel Broking

Angel Broking's report on CurrenciesCurrenciesUS Dollar IndexThe US Dollar Index surged by 0.8 percent in the last week after the  Feds in last week’s FOMC meeting minutes commented on opting for a  June interest - rate hike provided the economy warrants that.  Probability of June rate hike by t he US Federal Reserve rose to 34  percent from previous week’s 19 percent and 15 percent. The  policymakers feel that problems in the global economy and other  financial developments will diminish slowly. However; global financial markets could be sensitive t o the upcoming  British referendum and unexpected developments in the Chinese  exchange rate. US Dollar Index made a weekly high of 95. 51 and closed at 95.34 on  Friday  OutlookFrom the intra - day perspective, Rupee is likely to trade  positive owing to positive trend seen in the Asian markets.  However, hawkish tone in the recent FOMC meeting minutes has revived rate hike expectations in the forth coming June FOMC meeting.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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