Friday, 9 February 2018

Good Morning!

Wall Street plunges on Thursday with indices slumping more than four percent as Dow Jones suffered yet another big slide in the face of rapidly-rising bond yields, with perceived havens such as the yen and Swiss franc in demand amid the turmoil
While most of the Asian markets are trading down more than 2 percent after global selloff
Dollar traded lower against yen and Sterling as global stock markets plunged again, triggering a rush into traditional safe-haven currencies like Yen which edges towards four months high while Sterling surges after BOE hawkish comment
Dollar-rupee is expected to open on a positive note, near 64.45 against the previous closing of 64.25with selloff in equities market and rising bond yields, the pair likely to trade with a positve bias in a range of 64.26-64.65 range for the day

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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.