Currency Market Update : 22.08.2016
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USDINR US dollar index is trading at 94 . 82 ; showing a turnaround in the Friday US session as markets position for a hawkish statement from the US FED Chair Yellen at the Jackson Hole symposium on Friday . Expect volatile trading going into the event as markets would look for clarity in future guidance . Expect US dollar to strengthen for the day on this low data day.
EURINR Euro is trading at 1 .1287 , depreciating against the US dollar in Asian trading session today. Investors have started realizing profits from the Euro rally as the shared currency struggled to break beyond 1 . 1350 . With limited data for the day and a sustained trade below 1 . 13 can lead to further weakness.