INR forecast: INR opens weaker at 73.42 as against yesterday’s close around 73.27 and any trade the day between 73.15-73.53 under two way price action.
In overseas market USD remained ranging against most of its rival currencies. ECB as expected, left its interest rate unchanged 0%. No major reaction came from market post to news as ECB chief speech remained in line with market expectation.
Going ahead, with Nov. approaching market focus will now focus majorly on 4th and 6th when Iran sanctions and U.S mid term election starts.
This morning most of the Asian currencies and equities are weak. CNY is weak today and trading around above 6.96.