Rupee opened 22 pips weaker @72.72/73 levels after Friday Closed at 72.50/51 levels against greenback. USDINR weakness persist on two factors , First one is Dollar Index hovering near 16 month higher level and second is Saudi going to cut output of Oil from December'18.
The dollar built on last week's gains and rose toward a 16-month high on Monday as traders expect the U.S. Federal Reserve to keep tightening monetary policy. The Fed has reaffirmed its plan to raise interest rates by 25 basis points in December, followed by two more potential rate hikes by mid-2019 on the back of an upbeat economy and rising wage pressures.
INTRADAY RANGE - 72.40 (72.55 - 72.85) 73.10
Intraday events that Impact On Rupee
Dollar index mounting
Yuan any dip buy
10 Yr Yield up
Seems Oil finding base
EU Vs Italy
GLOBAL MARKET SENTIMENT
Dollar stands tall, inches closer to its 16-month high
GBP weakens as Brexit advances stall
JPY Challenging 114.00 in fresh Dollar-up plays
CNY risk reversals at 3.5-month low, signal CNY strength
PBOC set the yuan reference rate at 6.9476
EUR/JPY retakes 129.00 amid positive action in the Asian stocks
EUR/USD geared for a run south of 1.1300
Oil prices rise by 1 percent after Saudi announces December supply cut
Gold: Bears now eye the $1,201 50% retrenchment
Asian Markets Gain Despite Drop in U.S. Stocks
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