TECHNICAL Impact
USD INR (JAN– Expiry)
US dollar is looking weak on charts hence selling is recommended in USD.
Sell CMP 55.0000 with a SL 55.1500 possible targets of 54.7500/54.6500/54.5000.
EUR INR (JAN – Expiry)
Euro might fall further as technically looking weak.
Sell below 72.78000 with a SL 72.8800 possible targets of 72.6400/72.5400/72.4000.
OR
Buy above 72.8800 with a SL 72.7800 possible targets of 72.9900/73.0925/73.2000.
Currency Headlines
Dollar falls on Obama’s fiscal deficit deal.
Dollar falls as President Barack Obama said Congress is “close” to a deal to protect all but top earners from a tax increase as part of deal to avert the so-called fiscal cliff which has increased the pressure on their currency. The difference in the number of wagers by hedge funds and other large speculators on a drop in the euro compared with those on a gain, so-called net shorts, was 2,549 on Dec. 25, the least since September 2011, the data showed Dec. 28. The dollar gained 0.2 percent to $1.3193 per euro at 5 p.m. New York time. The U.S. currency appreciated 0.9 percent to 86.75 yen, reaching the strongest since Aug. 2, 2010. The yen lost 0.8 percent to 114.46 per euro.
