Forex Market News

Sell USDINR Strategy 68.88-68.92; Target Of 68.70

US dollar index is trading at 101.12, almost at the same level as the previous day.US dollar failed to latch on to the gains that were seen after a positive print of the third quarter GDP, which was reported at 3.2 % against an expectation of 3.0%.ADP non- farm payrolls and Pending home sales data would be in focus but the key driver would be the OPEC meeting outcome. We expect some more consolidation in US dollar before another leg up.

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