Currency Market Outlook – RR Investors

The Indian rupee hit its lowest level in 11 months on Friday weighed down by in-line growth data and dwindling hopes of another rate cut at the central bank’s upcoming policy review in mid-June. Rupee ends at 56.4950/5050 per dlr vs 56.38/39 on Thursday Late dlr sales by a large oil firm, state-run banks aids INR may continue to trade in 56-57 range next week.

Today’s Key Headlines 

• Euro fall from Three-Week High on Economic Data as Yen Climbs 
• Rand Drops Amid Speculation of Intervention to Calm Volatility 
• Asia Currencies Poised for Worst Month in a Year on Fed Bets 
• Won Completes a Fourth Weekly Decline on Fed Concern; Bonds Fall 
• Gilts Gain as Stocks Fall, Home Loans Stagnates; Pound Rises

For detail report please visit:- http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf

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