USDINR
On Tuesday, USDINR looks commence session within range of previous day closed between 73.08 - 15 as dollar erased all losses sustained after last week's poor U.S. jobs report and extended broad gains.
Though currencies stuck to recent well-worn trading ranges, the underlying sentiment turned in favour of the dollar in London trading as fears raised the global economy is set for a rough patch.
While analysts remain bearish on the outlook for the greenback with Citibank strategists expecting it to weaken in the coming months as the Fed postpones tapering plans to November, hedge funds have quietly ramped up bullish bets.
India's gold imports in August nearly doubled from a year earlier to the highest in five months on strong demand and as weaker prices prompted jewellers to ramp up purchases for the festive season
Day Trend: - UPSIDE SELL (But market oversold finding foot near 73 – 73.05)
Comments