The Indian rupee slipped in the early trade on Friday. It has opened lower by 14 paise at 66.95 per dollar versus 66.81 Thursday.
The dollar nursed declines on speculation of US interest rates will remain low amid unprecedented global stimulus.
US DOLLAR INDEX (USD)
The American currency declined by 0.1 percent yesterday owing to cautiousness in the market prior to the FOMC meeting minutes release that prompted the traders to book profits. In the meeting minutes, New York Fed President William Dudley spoke about the improving labour market thereby hinting that the US Federal Reserve might raise rates in its Sep’16 monetary policy review. US Dollar Index made an intraday low of 94.49 and closed at 94.69 levels on Wednesday.
OUTLOOK
Rupee is likely to trade negative after the New York Fed President William Dudley spoke about the improving labour market thereby hinting that the US Federal Reserve might raise rates in its Sep’16 monetary policy review. This will boost the demand for the DX in turn keeping the Indian Rupee pressurized.
The dollar nursed declines on speculation of US interest rates will remain low amid unprecedented global stimulus.
US DOLLAR INDEX (USD)
The American currency declined by 0.1 percent yesterday owing to cautiousness in the market prior to the FOMC meeting minutes release that prompted the traders to book profits. In the meeting minutes, New York Fed President William Dudley spoke about the improving labour market thereby hinting that the US Federal Reserve might raise rates in its Sep’16 monetary policy review. US Dollar Index made an intraday low of 94.49 and closed at 94.69 levels on Wednesday.
OUTLOOK
Rupee is likely to trade negative after the New York Fed President William Dudley spoke about the improving labour market thereby hinting that the US Federal Reserve might raise rates in its Sep’16 monetary policy review. This will boost the demand for the DX in turn keeping the Indian Rupee pressurized.
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