FOREX MARKET OVERVIEW GLOBAL TRACKER : 26.08.2016
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Global markets remain anxious before the key speech from Janet Yellen later in the evening. Investors expect to hear some clues about future rate hikes from the FED chair, and these expectations will keep them from taking positions during the day. US dollar, along with the majors is expected to trade sideways and all other data would be irrelevant before the Key event in the evening. We expect an ambiguous statement from Yellen and this could limit dollar gains after the event. Rupee is set to open on a marginally positive note but would continue with the range bound trading during the day.
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