Monday, 29 January 2018

Wall Street hits record highs, taking Asian equities higher in Monday morning session after the S&P 500 and Nasdaq composite both closed more than 1 percent higher on the last trading day. 

The dollar index wobbled near three-year lows today, struggling to pull ahead from six straight weeks of losses amid its evaporating yield advantage and doubts about Washington's commitment to a strong currency.
The greenback is also losing its relative yield attraction for investors. Short-term interest rates are expected to rise in other countries as the ECB and many others start to scale back their easy monetary policy.

USDINR today is expected to open at 63.63 with 63.45-63.80 as the intraday range for the spot to play.

Karvy Forex

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Volume and Open Interest suggesting an accumulation in USDINR

USDINR futures prices were seen consolidating while  volumes  and OI were seen increasing suggesting accumulation.