US DOLLAR INDEX (USD) : 31.08.2016

US DOLLAR INDEX (USD) : 31.08.2016

NIFTY Fut TREND : BUY ZONE
BANKNIFTY Fut   : BUY ZONE
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The American currency traded  higher by 0.5 percent yesterday owing to stronger that expected release of consumer confidence  data from the nation.

US consumer confidence  to the higheest  level in 11 months thereby indicat i ng the fact that  economic  growth c ould pick up in the second half of the year.

Moreover, Fed Chair Janet Yellen in her recent speech stated that  the case for a rate increase was strengthening, but provid ed little  detail on when the Fed would next move.  A ll  the above factors  has infused  expectation of a r ate hike possibility in the coming  months which inturn boosted the demand for  the American  currency. The American currency made an intraday  high of  96.13 and closed  at 9 6.0 4 on  Tues day. OUTLOOK Rupee is likely to appreciated after the  RBI governor  in his  foreword to the central bank’s annual report for 2015 - 16 stated  that t he economy’s prospects for the current financial year  looked brighter than the previo us fiscal year.