Dollar/Rupee opened up tracking weak Asian Currencies - IIFL

Dollar/rupee opened up tracking weak Asian currencies and after the credit rating outlook for US was revised to stable from negative.

The Reserve Bank of India is expected to intervene to defend the local currency and prevent it from touching Rs 60/$1 today.

Dollar strengthened globally after US Initial jobless claims which measures the number of people filing for first-time claims for unemployment insurance fell to 334,000 June better than forecast of 345,000 and 358,000 a month earlier.

Source : Equity Bulls

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