USD INR (DEC– Expiry)
US dollar is looking weak on charts hence selling is recommended in USD.
Sell around 54.4600 with a SL 54.6000 possible targets of 54.3000/54.2000/54.1000.
EUR INR (DEC – Expiry)
Euro might fall further as technically looking weak.
Sell below 71.3200 with a SL 71.4200 possible targets of 71.2000/71.1000/70.9900.
OR
Buy above 71.4200 with a SL 71.3200 possible targets of 71.3025/71.2000/71.1000.
Currency Headlines
Korean won is still in bullish bets on US stimulus.
Korean won is still hovering in bullish territory as Federal Reserve is willing to extend its monetary stimulus base which has given support to the high assets demand. Korean won is hovering near three months high levels enjoying the monetary easing of U.S policy makers as the demand of the high yield assets are still high. The won climbed 0.8 percent this week to 1,073.45 per dollar, the most since the week ended Sept. 14. The yield on the government’s 2.75 percent bonds due September 2017 rose six basis points, or 0.06 percentage point this week, to 2.99 percent, Korea Exchange Inc. prices show. The one-year interest-rate swap increased five basis points to 2.81 percent.
US dollar is looking weak on charts hence selling is recommended in USD.
Sell around 54.4600 with a SL 54.6000 possible targets of 54.3000/54.2000/54.1000.
EUR INR (DEC – Expiry)
Euro might fall further as technically looking weak.
Sell below 71.3200 with a SL 71.4200 possible targets of 71.2000/71.1000/70.9900.
OR
Buy above 71.4200 with a SL 71.3200 possible targets of 71.3025/71.2000/71.1000.
Currency Headlines
Korean won is still in bullish bets on US stimulus.
Korean won is still hovering in bullish territory as Federal Reserve is willing to extend its monetary stimulus base which has given support to the high assets demand. Korean won is hovering near three months high levels enjoying the monetary easing of U.S policy makers as the demand of the high yield assets are still high. The won climbed 0.8 percent this week to 1,073.45 per dollar, the most since the week ended Sept. 14. The yield on the government’s 2.75 percent bonds due September 2017 rose six basis points, or 0.06 percentage point this week, to 2.99 percent, Korea Exchange Inc. prices show. The one-year interest-rate swap increased five basis points to 2.81 percent.
