The Yen should continue its volatility today also. While it has crossed the 119 mark again, there may be a very good chance of it moving below the mark during the day. The considerable weakening of USD against EUR and Cable may just brush off again its showing against the Yen. I believe the Yen may stay mostly in the 118.80 to 119.55 range, looking to drop below the 119 .00 mark (despite a now weakened Japanese government ) and exchanging hands mostly in the 118.95 to 119.35 region. There is a thin possibility of it nearing the 119.80 mark once or twice in the day but expect the Yen to mostly keep near (and possibly below too!!!! ) the 119 mark .
As regards the USD/INR pair, it should be opening near 40.52 range and struggling to stay over that level, mostly trading at the 40.48 to 40. 54 range and occasionally dropping below 40.45 and ending the day at around 40.40
New direction to the markets?
11 years ago
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