Moneycontrol Be a Pro
Get App
Last Updated : Mar 21, 2017 10:36 AM IST | Source:

Sell USDINR target of 65.36: Karvy

Karvy has come out with its currency report. According to the research firm, one can enter USDINR at 65.55 - 65.60 ; and sell with a target of 65.36 with a stop loss of 65.70.

Karvy's currency report on USDINR

Dollar index is trading at 100.11. USD against INR will be following in the footsteps of the Dollar index which has been hovering near to 100 after Chicago Fed President Evans said the central bank will wait until June to decide on the next rate hike yesterday, ahead of Fed policymaker remarks which is due on Tuesday. These dovish comments from FOMC voting member has weighted on US dollar, as the investors were looking for aggressive comments from Fed expecting 4 hikes this year against Fed’s dot plot of 3. There was no economic data reported yesterday. Today market would be focusing on comments from Fed officials Dudley and George as well as US Q4 Current Account data. Markets will also track the International transactions data that is expected to come lower than previous at -113B.

Disclaimer: 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.

The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Mar 21, 2017 10:36 am
Follow us on
Available On
PCI DSS Compliant