USDINR Intraday Outlook : 22.3.2017
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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US dollar index is trading at 99.66, near to Feb lows. Delay in tax reforms as promised by Donald Trump has weighed on US dollar. Adding to this, dovish comments from Fed officials about further rate hikes this year has added some more downward pressure. US Q4 Current Account numbers were reported better than expected but had no impact. In terms of economic data we have Exiting Home Sales number to be reported. Expect US dollar to remain under pressure ahead of Fed chair Yellen speech tomorrow. Expect USD/INR pair to open a positive note around 65.50 levels and equity markets would drive the pair.