USDINR is likely to weaken: Angel Broking

Angel Broking's report on currencyIndian Rupee (USDINR)The Indian Rupee traded on a flat note yesterday as disappointing  release of ADP/NFP Non - Farm Employment Change data from the US pushed the American currency lower which in turn worked in favor of the Indian Rupee. Moreover, minutes from the Federal Reserve's December’16 meeting suggested a less hawkish stance from policymakers which boosted foreign inflows in emerging market equities including India. However, in spite of all the above  factors, USDINR is likely to weaken in today’s trading session as the upcoming news conference by President - elect Donald Trump will keep the DX strong in turn keeping the Indian Rupee pressurized.  OUTLOOK USDINR is likely to weaken in today’s trading session as the upcoming news conference by President - elect Donald Trump will keep the DX strong in turn keeping the Indian Rupee pressurized .  Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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