27 Jan 2015
A softer tone on rates by Fed may see USD/INR falling below 60.00 – Insignia Consultants
FXStreet (Barcelona) - Chintan Karnani of Insignia Consultants, believes that USD/INR may fall below 60.00 if a softer tone on US interest rates prevails, viewing the FOMC meeting to be the key for the Rupee.
Key Quotes
“Traders are still assessing the impact of Greece state elections. FOMC meet will be the key. A softer tone on interest rates by the Federal Reserve can result in rupee falling below 60.00 against the US dollar in the inter-bank market. There are more positive domestic factors than negative factors.”
USD/INR February 15 (expiry on 25th February 15):
“Jobbers aggressive buy over: 62.03 stop loss 61.88 for 62.22-62.42.”
“Jobbers aggressive sell below: 61.71 stop loss 61.8250 for 61.4950-61.2525.”
“USD/INR can fall to 61.3425 and 60.7650 in case it does not break and trade over 62.2250 next Friday.”
“Today there will be sellers only if USD/INR trades below 61.70 in UK session after 2:00 pm IST.”
Key Quotes
“Traders are still assessing the impact of Greece state elections. FOMC meet will be the key. A softer tone on interest rates by the Federal Reserve can result in rupee falling below 60.00 against the US dollar in the inter-bank market. There are more positive domestic factors than negative factors.”
USD/INR February 15 (expiry on 25th February 15):
“Jobbers aggressive buy over: 62.03 stop loss 61.88 for 62.22-62.42.”
“Jobbers aggressive sell below: 61.71 stop loss 61.8250 for 61.4950-61.2525.”
“USD/INR can fall to 61.3425 and 60.7650 in case it does not break and trade over 62.2250 next Friday.”
“Today there will be sellers only if USD/INR trades below 61.70 in UK session after 2:00 pm IST.”