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Last Updated : Jun 09, 2016 09:37 AM IST | Source: Moneycontrol.com

Sell USDINR Strategy 66.96 - 67.00; target of 66.72: Karvy

Karvy has come out with its report on currencies. According to the research firm, one can Sell USDINR Strategy 66.96 - 67.00; for the target of 66.72 with a stop loss of 67.09


Karvy's research report on Currencies

Currencies

USDINR

US dollar index is trading at 93 . 44 , trading on a weaker note with respect to all the majors as markets continued to price in a delayed rate hike from the US . Absence of economic data from the US shifts the focus to the ECB chairman who is scheduled to speak to today . Weakness in the US dollar is set to continue in the near term .

EURINR

Euro is trading at 1 . 1414 , appreciating in yesterday’s trade as markets applauded the corporate bond buying program initiated by the ECB . ECB is set to add additional stimulus in this month by targeted long term refinancing operations . ECB chair Draghi is scheduled to speak this afternoon and any verbal warning about steep appreciation of Euro need to be watched out for . 


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First Published on Jun 9, 2016 09:37 am
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