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Last Updated : Nov 30, 2016 10:08 AM IST | Source:

Sell USDINR Strategy 68.88-68.92; target of 68.70 : Karvy

Karvy has come out with its report on currencies. According to the research firm, one can Sell USDINR Strategy 68.88-68.92; for the target of 68.70 with a stop loss of 69.05

Karvy's research report on Currencies


US dollar index is trading at 101.12, almost at the same level as the previous day.US dollar failed to latch on to the gains that were seen after a positive print of the third quarter GDP, which was reported at 3.2 % against an expectation of 3.0%.ADP non- farm payrolls and Pending home sales data would be in focus but the key driver would be the OPEC meeting outcome. We expect some more consolidation in US dollar before another leg up.


Euro is trading at 1.0633, appreciating marginally against the US dollar in  yesterday’s trade. Failure of the US dollar to break higher helped the marginal recovery in the euro.There was no major news yesterday but today the Euro  calendar is  heavy  with  the  German  retail  sales  and  unemployment and the  European CPI data. A positive reading  coupled with the hesitant dollar can  take  the pair higher.

The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

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First Published on Nov 30, 2016 10:08 am
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